Market Update
Europe Movers: Aegon, ASML, Evotec, Generali
Inga Muller
15 Nov, 2024
Frankfurt
Benchmark indexes in the eurozone fell between 1% and 2% as investors worried about the rising trade tensions with the U.S. and Europe and uncertainty about NATO financing in 2025 following the U.S. elections and political instability in Germany.
The DAX index decreased by 0.1% to 19,252.48; the CAC-40 index eased by 0.1% to 7,304.66; and the FTSE 100 index rose by 0.1% to 8,075.84.
The yield on 10-year German bonds edged lower to 2.33%, French bonds inched lower to 3.06%, the UK gilts edged lower to 4.48%, and Italian bonds decreased to 3.52%.
Generali SpA increased 0.4% to €25.61 after the Italian insurance company reported better-than-expected nine-month profit, despite a €930 million charge linked to natural disasters.
Aegon Ltd. increased 2% to €6.18 after the Dutch insurance company launched a stock buyback worth €150 million.
ASML Holding NV declined 3.5% to €648.20 after the advanced chip equipment maker Applied Materials reported better-than-expected profit in its latest quarter but provided weaker-than-expected sales outlook in the current quarter.
Evotec soared 17.8% to €10.18 after the German drug company received a non-binding €2 billion acquisition offer from Halozyme Therapeutics.
Europe Movers: Aegon, ASML, Evotec, Generali
Inga Muller
15 Nov, 2024
Frankfurt
Benchmark indexes in the eurozone fell between 1% and 2% as investors worried about the rising trade tensions with the U.S. and Europe and uncertainty about NATO financing in 2025 following the U.S. elections and political instability in Germany.
The DAX index decreased by 0.1% to 19,252.48; the CAC-40 index eased by 0.1% to 7,304.66; and the FTSE 100 index rose by 0.1% to 8,075.84.
The yield on 10-year German bonds edged lower to 2.33%, French bonds inched lower to 3.06%, the UK gilts edged lower to 4.48%, and Italian bonds decreased to 3.52%.
Generali SpA increased 0.4% to €25.61 after the Italian insurance company reported better-than-expected nine-month profit, despite a €930 million charge linked to natural disasters.
Aegon Ltd. increased 2% to €6.18 after the Dutch insurance company launched a stock buyback worth €150 million.
ASML Holding NV declined 3.5% to €648.20 after the advanced chip equipment maker Applied Materials reported lower-than-expected profit in its latest quarter.
Evotec soared 17.8% to €10.18 after the German drug company received a non-biding €2 billion acquisition offer from Halozyme Therapeutics.
Rising Trade Tensions and Political Instability Weighed In Europe Trading, UK GDP Growth Disappointed
Bridgette Randall
15 Nov, 2024
London
European markets turned cautious in Friday's trading as investors reviewed the latest economic updates and corporate news.
Benchmark indexes in Paris, Frankfurt, Milan, and London traded in a tight range with a negative bias following a surge of as much as 1% in the previous session.
For the second week in a row, market sentiment has been cautious amid worries of an expected rise in trade tensions with the U.S. and China overshadowed in 2025.
On the economic front, Germany's annual wholesale price inflation slowed to 0.8% in October, slower than 1.1% in September, the Federal Statistical Office, or Destatis, reported Friday.
The U.K.'s GDP contracted in September, and growth slowed to the lowest level in three quarters amid weak consumer spending.
On a sequential basis, GDP growth slowed to an increase of mere 0.1% and below 0.5% in the second quarter and 0.7% in the first quarter, according to the data released by the Office for National Statistics.
GDP accelerated at an annual pace of 1% in the third quarter, following the rise of 0.7% in the second quarter and 0.3% in the first quarter, and expanded for the third quarter in a row.
The pound dropped to a four-month low after the GDP contracted in September and anemic growth in the third quarter.
Europe Indexes and Yields
The DAX index decreased by 0.1% to 19,252.48; the CAC-40 index eased by 0.1% to 7,304.66; and the FTSE 100 index rose by 0.1% to 8,075.84.
The yield on 10-year German bonds edged lower to 2.33%, French bonds inched lower to 3.06%, the UK gilts edged lower to 4.48%, and Italian bonds decreased to 3.52%.
The euro edged lower to $1.05; the British pound inched down to $1.26; and the U.S. dollar strengthened to 88.79 Swiss cents.
Brent crude decreased $0.71 to $71.84 a barrel, and the Dutch TTF natural gas fell by €0.61 to €45.73 per MWh.
Europe Stock Movers
Generali SpA increased 0.4% to €25.61 after the Italian insurance company reported better-than-expected nine-month profit, despite a €930 million charge linked to natural disasters.
Aegon Ltd. increased 2% to €6.18 after the Dutch insurance company launched a stock buyback worth €150 million.
ASML Holding NV declined 3.5% to €648.20 after the advanced chip equipment maker Applied Materials reported better-than-expected profit in its latest quarter but provided weaker-than-expected sales outlook in the current quarter.
Evotec soared 17.8% to €10.18 after the German drug company received a non-biding €2 billion acquisition offer from Halozyme Therapeutics.
Rising Trade Tensions and Political Instability Weighed In Europe Trading, UK GDP Growth Disappointed
Bridgette Randall
15 Nov, 2024
London
European markets turned cautious in Friday's trading as investors reviewed the latest economic updates and corporate news.
Benchmark indexes in Paris, Frankfurt, Milan, and London traded in a tight range with a negative bias following a surge of as much as 1% in the previous session.
For the second week in a row, market sentiment has been cautious amid worries of an expected rise in trade tensions with the U.S. and China overshadowed in 2025.
On the economic front, Germany's annual wholesale price inflation slowed to 0.8% in October, slower than 1.1% in September, the Federal Statistical Office, or Destatis, reported Friday.
The U.K.'s GDP contracted in September, and growth slowed to the lowest level in three quarters amid weak consumer spending.
On a sequential basis, GDP growth slowed to an increase of mere 0.1% and below 0.5% in the second quarter and 0.7% in the first quarter, according to the data released by the Office for National Statistics.
GDP accelerated at an annual pace of 1% in the third quarter, following the rise of 0.7% in the second quarter and 0.3% in the first quarter, and expanded for the third quarter in a row.
The pound dropped to a four-month low after the GDP contracted in September and anemic growth in the third quarter.
Europe Indexes and Yields
The DAX index decreased by 0.1% to 19,252.48; the CAC-40 index eased by 0.1% to 7,304.66; and the FTSE 100 index rose by 0.1% to 8,075.84.
The yield on 10-year German bonds edged lower to 2.33%, French bonds inched lower to 3.06%, the UK gilts edged lower to 4.48%, and Italian bonds decreased to 3.52%.
The euro edged lower to $1.05; the British pound inched down to $1.26; and the U.S. dollar strengthened to 88.79 Swiss cents.
Brent crude decreased $0.71 to $71.84 a barrel, and the Dutch TTF natural gas fell by €0.61 to €45.73 per MWh.
Europe Stock Movers
Generali SpA increased 0.4% to €25.61 after the Italian insurance company reported better-than-expected nine-month profit, despite a €930 million charge linked to natural disasters.
Aegon Ltd. increased 2% to €6.18 after the Dutch insurance company launched a stock buyback worth €150 million.
ASML Holding NV declined 3.5% to €648.20 after the advanced chip equipment maker Applied Materials reported lower-than-expected profit in its latest quarter.
Evotec soared 17.8% to €10.18 after the German drug company received a non-biding €2 billion acquisition offer from Halozyme Therapeutics.
China Indexes Trim Weekly Losses After New Home Prices and Retail Sales Data Improved In October
Li Chen
15 Nov, 2024
Hong Kong
Stock market indexes in China and Hong Kong diverged as investors digested a flood of economic updates and corporate earnings.
The Hang Seng index advanced 0.5%, and the mainland-focused CSI 300 index declined 0.5%.
Market indexes in Hong Kong edged higher after the latest updates on retail sales and new home sales supported a slight rebound in market sentiment.
Retail sales growth in October accelerated to 4.8% compared to 3.2% in September, the National Bureau of Statistics reported Friday.
Retail sales advanced following the raft of economic measures announced by the government in late September to stabilize the property market and facilitate lending to new home buyers.
New home sales across 70 leading cities in China declined at an annual pace of 5.9% in October, faster than the 5.8% in the previous month, the government agency reported in a separate report.
However, the monthly rate of decline of 0.5% was the smallest in seven months.
New home prices declined for the 16th month in a row and fell at the fastest pace since April 2015, despite several measures by policymakers to facilitate transactions.
Industrial output increased 5.3% last month, a slight decline from the 5.4% annual pace in September.
The urban jobless rate edged slightly lower to 5.0%, compared to 5.1% in September, according to separate reports from the statistical bureau.
China's jobless rate data are viewed with a high rate of suspicion, and most international economists believe that the true rate of jobless rate in China is well over 12% when smaller and rural areas are included.
China Stock Movers
The Hang Seng index gained 0.5% to 19,538.43, and the mainland-focused CSI 300 index decreased 0.5% to 4,018.87.
NetEase Inc. increased 12.9% to HK $135.0 after the online gaming company reported better-than-expected revenues.
Alibaba Group declined 0.5% to HK $87.75 ahead of the e-commerce platform operator's quarterly results later in the day after the close of trading.
Longfor Group increased 1.1% to HK $11.48, China Vanke declined 1.4% to HK $6.49, and China Land Resource Land declined 1.3% to HK $23.75.
Jiangsu Guofu Hydrogen Energy Equipment soared 20% to HK$78.0 on its first day of trading in Hong Kong after the company raised HK$390 million through the sale of 6 million shares.
China Indexes Trim Weekly Losses After New Home Prices and Retail Sales Data Improved In October
Li Chen
15 Nov, 2024
Hong Kong
Stock market indexes in China and Hong Kong diverged as investors digested a flood of economic updates and corporate earnings.
The Hang Seng index advanced 0.5%, and the mainland-focused CSI 300 index declined 0.5%.
Market indexes in Hong Kong edged higher after the latest updates on retail sales and new home sales supported a slight rebound in market sentiment.
Retail sales growth in October accelerated to 4.8% compared to 3.2% in September, the National Bureau of Statistics reported Friday.
Retail sales advanced following the raft of economic measures announced by the government in late September to stabilize the property market and facilitate lending to new home buyers.
New home sales across 70 leading cities in China declined at an annual pace of 5.9% in October, faster than the 5.8% in the previous month, the government agency reported in a separate report.
However, the monthly rate of decline of 0.5% was the smallest in seven months.
New home prices declined for the 16th month in a row and fell at the fastest pace since April 2015, despite several measures by policymakers to facilitate transactions.
Industrial output increased 5.3% last month, a slight decline from the 5.4% annual pace in September.
The urban jobless rate edged slightly lower to 5.0%, compared to 5.1% in September, according to separate reports from the statistical bureau.
China's jobless rate data are viewed with a high rate of suspicion, and most international economists believe that the true rate of jobless rate in China is well over 12% when smaller and rural areas are included.
China Stock Movers
The Hang Seng index gained 0.5% to 19,538.43, and the mainland-focused CSI 300 index decreased 0.5% to 4,018.87.
NetEase Inc. increased 12.9% to HK $135.0 after the online gaming company reported better-than-expected revenues.
Alibaba Group declined 0.5% to HK $87.75 ahead of the e-commerce platform operator's quarterly results later in the day after the close of trading.
Longfor Group increased 1.1% to HK $11.48, China Vanke declined 1.4% to HK $6.49, and China Land Resource Land declined 1.3% to HK $23.75.
Jiangsu Guofu Hydrogen Energy Equipment soared 20% to HK$78.0 on its first day of trading in Hong Kong after the company raised HK$390 million through the sale of 6 million shares.
India Movers: Apollo Tyres, Eicher Motors, NALCO, NBCC, Thomas Cook
Arun Goswami
15 Nov, 2024
Mumbai
Stock market indexes in India continued to struggle amid weak corporate results, sustained foreign fund outflow, and the worries of a resurgent inflation.
The Sensex index closed down 0.2%, and the Nifty index declined 0.1% as investors reviewed the latest batch of mixed earnings and prepared for a three-day weekend.
At Thursday's close, the Sensex index declined 0.2% to 77,580.31, and the Nifty index dropped 0.1% to 77,580.31.
For the week, both benchmark indexes decreased 2.4% and extended losses for the second week in a row as foreign investors pulled $12 billion in September, outweighing the $4 billion inflows from retail domestic investors.
NBCC India Ltd declined 0.3% to ₹89.90 despite the construction company reporting a rise in its profit in the fiscal second quarter.
Consolidated net income in the September quarter increased 53% to ₹125.1 crore from ₹81.9 crore a year ago.
National Aluminium Company closed at ₹219.70, and the company reported a surge in net income in the September quarter.
Consolidated net income surged more than five-fold to ₹1,045.9 crore from ₹187.4 crore a year ago, and the company's board approved an interim dividend of ₹4 per share.
Vodafone Idea decreased 0.4% to ₹7.35 after the embattled mobile phone services provider reported another quarter of losses.
Consolidated loss in the fiscal second quarter ending in September shrank to ₹7,175.9 crore from ₹8,737 crore a year ago but rose from ₹6,432 crore in the June quarter.
Eicher Motors increased 6.5% to ₹4,890.95 after the vehicle maker reported record quarterly revenue in the September quarter.
Revenue increased to 4,263 crore from 4,115 crore, and net income advanced 8.3% to 1,100 crore from 1,016 crore a year ago.
Thomas Cook India Ltd increased 2.5% to ₹196.50 after the travel services provider reported a rise in the September quarter profit.
Consolidated revenue in the quarter increased 8.7% to 2,003.8 crore, and net income soared 37.8% to 64.9 crore from a year ago, respectively.
Apollo Tyres jumped 4.2% to ₹476.20 after the company reported better-than-expected results in the September quarter.
Consolidated operating revenue increased to ₹6,437 crore from ₹6,280 crore, but net income declined 37% to ₹297 crore from ₹474 crore a year ago, respectively.
India Movers: Apollo Tyres, Eicher Motors, NALCO, NBCC, Thomas Cook
Arun Goswami
15 Nov, 2024
Mumbai
Stock market indexes in India continued to struggle amid weak corporate results, sustained foreign fund outflow, and the worries of a resurgent inflation.
The Sensex index closed down 0.2%, and the Nifty index declined 0.1% as investors reviewed the latest batch of mixed earnings and prepared for a three-day weekend.
At Thursday's close, the Sensex index declined 0.2% to 77,580.31, and the Nifty index dropped 0.1% to 77,580.31.
For the week, both benchmark indexes decreased 2.4% and extended losses for the second week in a row as foreign investors pulled $12 billion in September, outweighing the $4 billion inflows from retail domestic investors.
NBCC India Ltd declined 0.3% to ₹89.90 despite the construction company reporting a rise in its profit in the fiscal second quarter.
Consolidated net income in the September quarter increased 53% to ₹125.1 crore from ₹81.9 crore a year ago.
National Aluminium Company closed at ₹219.70, and the company reported a surge in net income in the September quarter.
Consolidated net income surged more than five-fold to ₹1,045.9 crore from ₹187.4 crore a year ago, and the company's board approved an interim dividend of ₹4 per share.
Vodafone Idea decreased 0.4% to ₹7.35 after the embattled mobile phone services provider reported another quarter of losses.
Consolidated loss in the fiscal second quarter ending in September shrank to ₹7,175.9 crore from ₹8,737 crore a year ago but rose from ₹6,432 crore in the June quarter.
Eicher Motors increased 6.5% to ₹4,890.95 after the vehicle maker reported record quarterly revenue in the September quarter.
Revenue increased to 4,263 crore from 4,115 crore, and net income advanced 8.3% to 1,100 crore from 1,016 crore a year ago.
Thomas Cook India Ltd increased 2.5% to ₹196.50 after the travel services provider reported a rise in the September quarter profit.
Consolidated revenue in the quarter increased 8.7% to 2,003.8 crore, and net income soared 37.8% to 64.9 crore from a year ago, respectively.
Apollo Tyres jumped 4.2% to ₹476.20 after the company reported better-than-expected results in the September quarter.
Consolidated operating revenue increased to ₹6,437 crore from ₹6,280 crore, but net income declined 37% to ₹297 crore from ₹474 crore a year ago, respectively.
Trump Rally Faces Reality of Upcoming Trump Administration Chaos
Barry Adams
14 Nov, 2024
New York City
Wall Street indexes rested following a post-election rally that lifted major averages to new record highs.
The S&P 500 index decreased 0.2% and the Nasdaq Composite declined 0.1% as investors reviewed the latest updates on weekly jobless data and producer price inflation.
On an annual basis, producer price inflation accelerated to 2.4% in October from 1.9% in September, the U.S. Bureau of Labor Statistics reported Thursday.
The annual core rate of producer price inflation accelerated to 3.1% from 2.9%, confirming elevated inflation pressures and supporting the case for policymakers to keep interest rate policy restrictive.
Initial jobless claims at the end of the week ending on November 9 declined by 4,000 from the previous week to 217,000, the U.S. Department of Labor reported Thursday.
The four-week moving average, which reduces weekly volatility, fell by 6,250 to 221,000.
Continuing claims, which lag by one week, fell by 19,000 to 1.873 million.
In international trading, financial markets in Europe, Japan, China, and India extended volatility for the second week in a row amid growing worries about the U.S. trade policy and nature and level of tariffs under the expected chaotic administration of president-elect Donald Trump.
President-elect Donald Trump has promised to wipe out the federal government deficit in eight years of his office, vowed to deport 10 million illegal immigrants in the first year of his administration, settle the war in Ukraine in one day, and he should be consulted by the Fed Chair before rate decisions.
Don't hold your breath; none of these action items are likely to happen, even in the next four years.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 2.0% to 5,901.45, the Nasdaq Composite rose 2.1% to 18,832.39, and the Russell 2000 index rose 1.9% to 2,260.84.
The yield on 2-year Treasury notes edged higher to 4.28%, 10-year Treasury notes inched higher to 4.45%, and 30-year Treasury bonds increased to 4.61%.
WTI crude oil increased $0.27 to $69.28 a barrel, and natural gas prices edged down 2 cents to $2.95 a thermal unit.
Gold decreased by $15.14 to $2,556.49 an ounce, and silver declined by $0.15 to $30.13.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 106.72.
U.S. Stock Movers
Walt Disney Company soared 10% to $113.16 after the theme park operator reported better-than-expected quarterly results.
Cisco Systems decreased 1.3% to $58.48 after the networking gear maker reported better-than-expected quarterly results and lifted its annual outlook, but revenue declined for the fourth quarter in a row.
Capri Holdings declined 2.2% to $19.24 and Tapestry Inc. jumped 11.4% to $57.13 after the two companies called off their merger plans citing regulatory hurdles.
Trump Rally Faces Reality of Upcoming Trump Administration Chaos
Barry Adams
14 Nov, 2024
New York City
Wall Street indexes rested following a post-election rally that lifted major averages to new record highs.
The S&P 500 index decreased 0.2% and the Nasdaq Composite declined 0.1% as investors reviewed the latest updates on weekly jobless data and producer price inflation.
On an annual basis, producer price inflation accelerated to 2.4% in October from 1.9% in September, the U.S. Bureau of Labor Statistics reported Thursday.
The annual core rate of producer price inflation accelerated to 3.1% from 2.9%, confirming elevated inflation pressures and supporting the case for policymakers to keep interest rate policy restrictive.
Initial jobless claims at the end of the week ending on November 9 declined by 4,000 from the previous week to 217,000, the U.S. Department of Labor reported Thursday.
The four-week moving average, which reduces weekly volatility, fell by 6,250 to 221,000.
Continuing claims, which lag by one week, fell by 19,000 to 1.873 million.
In international trading, financial markets in Europe, Japan, China, and India extended volatility for the second week in a row amid growing worries about the U.S. trade policy and nature and level of tariffs under the expected chaotic administration of president-elect Donald Trump.
President-elect Donald Trump has promised to wipe out the federal government deficit in eight years of his office, vowed to deport 10 million illegal immigrants in the first year of his administration, settle the war in Ukraine in one day, and he should be consulted by the Fed Chair before rate decisions.
Don't hold your breath; none of these action items are likely to happen, even in the next four years.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 2.0% to 5,901.45, the Nasdaq Composite rose 2.1% to 18,832.39, and the Russell 2000 index rose 1.9% to 2,260.84.
The yield on 2-year Treasury notes edged higher to 4.28%, 10-year Treasury notes inched higher to 4.45%, and 30-year Treasury bonds increased to 4.61%.
WTI crude oil increased $0.27 to $69.28 a barrel, and natural gas prices edged down 2 cents to $2.95 a thermal unit.
Gold decreased by $15.14 to $2,556.49 an ounce, and silver declined by $0.15 to $30.13.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 106.72.
U.S. Stock Movers
Walt Disney Company soared 10% to $113.16 after the theme park operator reported better-than-expected quarterly results.
Cisco Systems decreased 1.3% to $58.48 after the networking gear maker reported better-than-expected quarterly results and lifted its annual outlook, but revenue declined for the fourth quarter in a row.
Capri Holdings declined 2.2% to $19.24 and Tapestry Inc. jumped 11.4% to $57.13 after the two companies called off their merger plans citing regulatory hurdles.
NYC THURS
Barry Adams
14 Nov, 2024
New York City
Wall Street indexes rested following a post-election rally that lifted major averages to new record highs.
The S&P 500 index decreased 0.2% and the Nasdaq Composite declined 0.1% as investors reviewed the latest updates on weekly jobless data and producer price inflation.
On an annual basis, producer price inflation accelerated to 2.4% in October from 1.9% in September, the U.S. Bureau of Labor Statistics reported Thursday.
The annual core rate of producer price inflation accelerated to 3.1% from 2.9%, confirming elevated inflation pressures and supporting the case for policymakers to keep interest rate policy restrictive.
Initial jobless claims at the end of the week ending on November 9 declined by 4,000 from the previous week to 217,000, the U.S. Department of Labor reported Thursday.
The four-week moving average, which reduces weekly volatility, fell by 6,250 to 221,000.
Continuing claims, which lag by one week, fell by 19,000 to 1.873 million.
In international trading, financial markets in Europe, Japan, China, and India extended volatility for the second week in a row amid growing worries about the U.S. trade policy and nature and level of tariffs under the expected chaotic administration of president-elect Donald Trump.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 2.0% to 5,901.45, the Nasdaq Composite rose 2.1% to 18,832.39, and the Russell 2000 index rose 1.9% to 2,260.84.
The yield on 2-year Treasury notes edged higher to 4.28%, 10-year Treasury notes inched higher to 4.45%, and 30-year Treasury bonds increased to 4.61%.
WTI crude oil increased $0.27 to $69.28 a barrel, and natural gas prices edged down 2 cents to $2.95 a thermal unit.
Gold decreased by $15.14 to $2,556.49 an ounce, and silver declined by $0.15 to $30.13.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 106.72.
U.S. Stock Movers
Walt Disney Company soared 10% to $113.16 after the theme park operator reported better-than-expected quarterly results.
Cisco Systems decreased 1.3% to $58.48 after the networking gear maker reported better-than-expected quarterly results and lifted its annual outlook, but revenue declined for the fourth quarter in a row.
Capri Holdings declined 2.2% to $19.24 and Tapestry Inc. jumped 11.4% to $57.13 after the two companies called off their merger plans citing regulatory hurdles.
Eurozone Third Quarter GDP Growth Reconfirmed at 0.4%, France's Jobless Rate Edged Higher to 7.4%
Bridgette Randall
14 Nov, 2024
London
European markets advanced following positive earnings and corporate news from leading corporations in France, Germany, and Italy.
Moreover, market sentiment was bolstered after the third quarter's GDP growth in the eurozone was reaffirmed and the jobless rate edged up slightly in the third quarter.
Investors have been on edge after the U.S. election results amid rising worries of political and trade tensions between the U.S. and the eurozone over the next six months and growing uncertainty over the U.S. policy.
Moreover, the next U.S. administration is likely to shift the burden of NATO military spending to Europe and wind out war in Ukraine while cutting off aid and negotiating a quick settlement with Russia.
Eurozone Q3 GDP Growth Reaffirmed In Second Estimate
The eurozone's third quarter GDP growth accelerated to 0.4% sequentially after rising 0.2% in the second quarter, matching the flash estimate, according to a report released by Eurostat on Thursday.
On an annual basis, GDP growth accelerated to 0.9% from an annual rate of 0.6% in the second quarter, matching the preliminary estimate.
France's Jobless Rate Eased In The Third Quarter
France's jobless rate in the third quarter edged up to 7.4% from 7.3% in the second quarter, according to the data released by the French statistical agency, or INSEE.
The unemployed persons in the third quarter increased by 35,000 to 2.3 million, and the jobless rate among women edged lower by 0.2 basis points to 7.2% among women and increased by 0.3% to 7.6% among men.
The activity rate, which measures the number of people in the job market, increased by 0.3% to 74.8%.
The jobless rate among those between the ages of 25 and 49 decreased by 0.1% to 6.6%, and that between 18 and 24 increased by 1.8% to 19.7%.
Meanwhile, the jobless rate for people 50 years and older eased by 0.3% from the second quarter to 7.6%.
Europe Indexes and Yields
The DAX index increased by 1.1% to 19,217.99; the CAC-40 index rose by 1.0% to 7,285.61; and the FTSE 100 index rose by 0.4% to 8,060.07.
The yield on 10-year German bonds edged lower to 2.36%, French bonds inched lower to 3.11%, the UK gilts edged higher to 4.52%, and Italian bonds decreased to 3.59%.
The euro edged lower to $1.05; the British pound inched down to $1.26; and the U.S. dollar strengthened to 89.04 Swiss cents.
Brent crude decreased $0.92 to $74.60 a barrel, and the Dutch TTF natural gas rose by €1.12 to €39.40 per MWh.
Europe Stock Movers
ASML Holding NV soared 5% to €660.0 after the advanced chip equipment maker lifted its sales outlook over the next five years despite sales in the current financial year.
CEO Christophe Fouquet that the company's technology is capable of scaling over the next five years to "leverage the artificial intelligence opportunity."
The company guided revenue between 44 billion and 60 billion and gross margin between 56% and 60% by 2030.
The current forecast implies that sales are likely to rise annually between 8% and 14% over the next five years.
Aviva plc gained 4.5% to 476.61 pence after the UK-based insurance company reported meaningful gains in its key business units in the third quarter.
Burberry Group jumped 18.5% to 867.20 pence after the company's recently appointed chief executive, Joshua Schulman, pledged to stabilize the business with a turnaround plan.
Premier Foods plc decreased 0.4% to 187.0 pence after the company reported higher sales and earnings in the first half amid rising demand for its food brands.
Alstom SA soared 7.9% to €21.22 after the French mobility company reported higher-than-expected cash in its interim results driven by rising sales volume and cost savings initiatives.
Thales SA declined 0.6% to €155.55 despite the defense contractor estimating higher sales and growth driven by expansion of its cyber security management systems.
Siemens AG advanced 6% to €190.20 after the engineering conglomerate reported higher-than-expected fiscal fourth quarter earnings, but the company lowered its sales outlook for fiscal 2025 amid rising geopolitical uncertainties.
Deutsche Telekom AG jumped 4% to €28.97 after the German telephone company reported better-than-expected third quarter profit and raised its full-year core profit estimate.
Banca Monte dei Paschi di Siena SpA rose 12% to €6.21 after the Italian government sold a 15% stake in the bank to rival Banco BPM.
Banco BPM gained 2.6% to €6.72.