European shares edged higher on Wednesday as a softer-than-expected UK inflation boosted hopes of imminent interest-rate cuts by the Bank of England, while investors awaited more economic data from euro zone later in the day.
Most emerging markets stocks and currencies dipped on Wednesday, as investors scaled back hopes of early interest rate cuts by the Federal Reserve following a blow-out inflation reading, while Hungary's forint weakened on a soft GDP reading.
The dollar weakened against the yen on Wednesday after top Japanese currency officials warned against what they described as rapid and speculative yen moves, while sterling fell after data showed UK inflation did not accelerate in January as expected.
Euro zone inflation appears to be heading back to 2% but the European Central Bank needs "some time" and more data before it can be comfortable that record-high interest rates have done their job, ECB vice-president Luis de Guindos said on Wednesday.
Japan's Nikkei share average retreated from a 34-year high on Wednesday, weighed by Wall Street's sharp declines overnight, however, a weaker yen and hot investor demand are expected to push the benchmark back toward fresh peaks in the near-term.
Japan's Rakuten Group on Thursday posted an operating loss of 33.3 billion yen ($221.25 million) in the October-December quarter, its fourteenth consecutive quarter in the red, as strong gains in its e-commerce and fintech arms failed to make up for its moey-losing mobile arm.
Asian shares extended a global sell-off on Wednesday, while the dollar and Treasury yields jumped as traders pared back expectations for the pace and scale of rate cuts by the Federal Reserve this year.
(RTTNews) - Dutch lender ABN AMRO Holding N.V. (ABNYY.PK) reported Wednesday that its fourth-quarter net profit climbed 54 percent to 545 million euros from last year's 354 million euros.
(RTTNews) - Hydro reported a fourth quarter loss from continuing operations of 2.8 billion Norwegian Kroner compared to profit of 158 million Norwegian Kroner, previous year. Loss per share from continuing operations was 1.26 Kroner compared to profit of 0.12 Kroner. Adjusted EBI
Dutch brewer Heineken on Wednesday forecast operating profit growth of low- to high-single digits in 2024, citing volatility in geopolitics and economic conditions.
Heart-shaped balloons, chocolate and pink candy welcomed voters to a polling station in the city of Denpasar on Indonesia's resort island of Bali during the presidential election on Wednesday, Valentine's Day.
Russia launched several missile attacks on the town of Selydove in Ukraine's eastern Donetsk region overnight, killing three people, injuring a dozen and damaging a hospital and several apartments, Ukrainian officials said.
Australian shares ended at their lowest level since late January on Wednesday, as higher-than-expected U.S. inflation hurt hopes of early rate cuts by the Federal Reserve. The S&P/ASX 200 index closed 0.7% lower at 7,547.7 points. The benchmark had slipped 0.2% on Tuesday.
Dutch lender ABN Amro reported fourth-quarter net interest income slightly above expectations on Wednesday supported by high interest rates, and despite some margin pressure on mortgages and consumer loans.
(RTTNews) - ThyssenKrupp AG (TYEKF.PK), a German industrial engineering and steel company, reported Wednesday a net loss in its first quarter, compared to prior year's profit as sales and order intake were lower as expected due to market effects.
Thyssenkrupp cut its annual sales and net profit forecasts on Wednesday, blaming softening demand and prices at its materials and steel divisions, in the latest sign of weakness in European industry.
Thyssenkrupp cut its annual sales and net profit forecasts on Wednesday, blaming softening demand and prices at its materials and steel divisions, in the latest sign of weakness in European industry.
Reuters
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17 minutes 18 seconds ago
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