DAX Rallies As Banks Climb After Record ECB Rate Hike

RTTNews | 965日前
DAX Rallies As Banks Climb After Record ECB Rate Hike

(RTTNews) - German stocks rallied on Friday, a day after the European Central Bank (ECB) reinforced its fight against inflation by delivering a 75-basis-point rate hike.

The ECB must raise interest rates further to prevent record euro-zone inflation from spilling over into wages, Governing Council member Klaas Knot said.

Separately, Slovakia's Peter Kazimir called for "resolute hikes" to tackle "painfully" high inflation.

The benchmark DAX jumped 195 points, or 1.5 percent, to 13,099 after finishing marginally lower the previous day.

Banks, which would benefit from higher interest rates, advanced on expectations that the ECB will deliver another supersized interest rate increase in October.

Commerzbank soared 5.5 percent and Deutsche Bank climbed 3.1 percent.

read more
Tesla Chair Denies Report Of CEO Search To Replace Elon Musk

Tesla Chair Denies Report Of CEO Search To Replace Elon Musk

Tesla Inc. chair Robyn Denholm has denied a Wall Street Journal report that its board was searching for a replacement for Chief Executive Officer Elon Musk. On the social media platform X, she called the report as "absolutely false." Shares of Tesla had fallen around 3 percent on Wednesday's trading following the news. However, with the denial of the report, the stock is currently gaining.
RTTNews | 51分前
UK Mortgage Approvals Lowest In 8 Months

UK Mortgage Approvals Lowest In 8 Months

UK mortgage approvals decreased to the lowest level in eight months in March despite home buyers rushing to complete the transactions ahead of the rise in stamp duty, official data revealed on Thursday. Mortgage approvals decreased 800 to 64,309 in March, the Bank of England said. Approvals for house purchases, an indicator of future borrowing, decreased for the third straight month.
RTTNews | 1時44分前
Yen Slides As Bank Of Japan Retains Rate As Expected

Yen Slides As Bank Of Japan Retains Rate As Expected

The Japanese yen weakened against other major currencies in the Asian session on Thursday, after the Bank of Japan left its interest rate unchanged for the second consecutive meeting and downgraded its growth projections citing trade tariff threats.
RTTNews | 4時43分前
Commodity Currencies Rise Amid Risk-on Mood

Commodity Currencies Rise Amid Risk-on Mood

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Thursday amid increased risk-on mood, as traders booked some profits after the recent upside in markets and a report showing the U.S. economy unexpectedly shrank in the first three months of 2025 generated some optimism about the outlook for interest rates.
RTTNews | 4時58分前
Yen Slides Against Majors

Yen Slides Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Thursday.
RTTNews | 6時8分前
Bank Of Japan Retains Rate As Expected; Cuts Growth Outlook Amid Tariff Uncertainty

Bank Of Japan Retains Rate As Expected; Cuts Growth Outlook Amid Tariff Uncertainty

The Bank of Japan left its interest rate unchanged for the second consecutive meeting on Thursday, and downgraded its growth projections citing trade tariff threats. The policy board decided, by a unanimous vote, to hold the uncollateralized overnight call rate to remain at around 0.50 percent. This was the highest level since the global financial crisis in 2008.
RTTNews | 6時9分前