Title: European stocks edge higher ahead of Fed meeting; U.K. returns to growth
Jun 14, 2023 03:32AM ET
By: AnalysisWatch
European stock markets edged higher Wednesday as investors digested U.K. growth data ahead of the conclusion of the U.S. Federal Reserve’s latest policy-setting meeting.
At 03:30 ET (07:30 GMT), the DAX index in Germany traded 0.2% higher, the CAC 40 in France rose 0.3%, while the FTSE 100 in the U.K. traded 0.1% higher.
Investors have adopted a cautious stance in Europe Wednesday even as Tuesday’s soft U.S. inflation data largely removed any bets that the Fed officials would agree to a rate hike later in the session.
A pause in the U.S. central bank’s year-long rate hiking cycle is largely baked in now, and the uncertainty revolves around the language used to guide expectations of future action as well as the new quarterly economic projections.
Policymakers may well signal more rate increases are still to come once they take time to assess how the economy is coping with the more than 500 basis points of combined hikes already announced.
Back in Europe, the U.K. economy grew by 0.2% on the month in April, an improvement from the 0.3% drop the prior month, but industrial production fell 0.3% in the same time period.
There's also euro-area industrial production for April to digest later in the period, a day before the European Central Bank meets to make its latest monetary policy decision
Title: Japan stocks higher at close of trade; Nikkei 225 up 1.47%
Jun 14, 2023 03:35AM ET
By: AnalysisWatch
Japan stocks were higher after the close on Wednesday, as gains in the Transportation Equipment, Electrical/Machinery and Pharmaceutical Industry sectors led shares higher.
At the close in Tokyo, the Nikkei 225 rose 1.47% to hit a new 5-year high.
The best performers of the session on the Nikkei 225 were Toyota Motor Corp (TYO:7203), which rose 6.28% or 136.50 points to trade at 2,310.00 at the close. Meanwhile, Trend Micro Inc. (TYO:4704) added 6.01% or 423.00 points to end at 7,458.00 and Sumitomo Metal Mining Co., Ltd. (TYO:5713) was up 5.83% or 271.00 points to 4,920.00 in late trade.
The worst performers of the session were Eisai Co., Ltd. (TYO:4523), which fell 4.07% or 430.00 points to trade at 10,125.00 at the close. Daiichi Sankyo Co., Ltd. (TYO:4568) declined 2.88% or 148.00 points to end at 4,999.00 and Dainippon Screen Mfg. Co., Ltd. (TYO:7735) was down 2.55% or 415.00 points to 15,870.00.
Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2031 to 1575 and 238 ended unchanged.
Shares in Toyota Motor Corp (TYO:7203) rose to 52-week highs; gaining 6.28% or 136.50 to 2,310.00.
The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 4.18% to 21.41.
Crude oil for July delivery was up 0.07% or 0.05 to $69.47 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 0.23% or 0.17 to hit $74.46 a barrel, while the August Gold Futures contract rose 0.21% or 4.15 to trade at $1,962.75 a troy ounce.
USD/JPY was down 0.19% to 139.95, while EUR/JPY fell 0.19% to 151.05.
The US Dollar Index Futures was down 0.11% at 102.82.
Title: Australia stocks higher at close of trade; S&P/ASX 200 up 0.32%
Jun 14, 2023 03:45AM ET
By: AnalysisWatch
Australia stocks were higher after the close on Wednesday, as gains in the Metals & Mining, Materials and Resources sectors led shares higher.
At the close in Sydney, the S&P/ASX 200 gained 0.32%.
The best performers of the session on the S&P/ASX 200 were Mineral Resources Ltd which rose 5.01% or 3.40 points to trade at 71.32 at the close. Meanwhile, Fortescue Metals Group Ltd (ASX:FMG) added 4.33% or 0.90 points to end at 21.70 and Nuix Ltd (ASX:NXL) was up 4.27% or 0.04 points to 0.85 in late trade.
The worst performers of the session were Appen Ltd which fell 9.87% or 0.31 points to trade at 2.83 at the close. CSL Ltd declined 6.89% or 21.27 points to end at 287.25 and Clinuvel Pharmaceuticals Ltd was down 4.33% or 0.82 points to 18.13.
Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 693 to 638 and 449 ended unchanged.
The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 1.67% to 11.59.
Gold Futures for August delivery was up 0.21% or 4.05 to $1,962.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.86% or 0.60 to hit $70.02 a barrel, while the August Brent oil contract rose 0.97% or 0.72 to trade at $75.01 a barrel.
AUD/USD was unchanged 0.25% to 0.68, while AUD/JPY rose 0.04% to 94.92.
The US Dollar Index Futures was down 0.10% at 102.82.
