16.7 C
Qādiān
Sunday, February 9, 2025

Reshaping Perspectives and Catalyzing Diplomatic Evolution

European stocks closed lower after US retail sales data

The European Stoxx 600 index closed down 0.4% and the retail companies sub-index was the hardest hit.

And Home Depot slashed its full-year sales forecast, expecting a bigger-than-expected profit decline, while data shows U.S. retail sales rose in April by half the amount the market had expected.

Investor sentiment has been hurt in recent weeks by talks to raise the US government debt ceiling, as well as supportive rhetoric from policymakers at the European Central Bank, and this has been offset by the impact of European companies publishing strong quarterly results.

Economists polled by Reuters had expected the European Central Bank to raise interest rates by 25 basis points at each of its next meetings, and many said the interest hikes could be continue in the future.

The euro zone recorded economic growth of 0.1% on a quarterly basis, in the first three months of the year, with the bloc’s trade surplus benefiting from an increase in employment and strong growth exports.

The automakers’ index fell 0.9% after weak data from China stoked fears of an economic slowdown.

Shares of the Embresser Group plunged 15.9% to the low of the Stoxx 600 index after it cut its forecast for annual adjusted profit before interest and tax.

Read the Latest World News Today on The Eastern Herald.

More

Follow The Eastern Herald on Google News. Show your support if you like our work.

Author

Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

Editor's Picks

Trending Stories

Laurita Fernandez poses totally nude on her back in her Instagram

Laurita Fernandez is one of the most talented dancers...

Israel on high alert for potential Tsunami following Santorini earthquakes

Israeli authorities have issued precautionary measures following a series...

Prostitution in Dubai: Understanding the Dark Side of the City

Dubai, a city celebrated for its lavish shopping experiences,...