CAC 40 Struggles For Direction Before US Inflation Test

RTTNews | 188 dias atrás
CAC 40 Struggles For Direction Before US Inflation Test

(RTTNews) - French stocks struggled for direction on Tuesday as caution prevailed ahead of the release of U.S. inflation data that might influence the outlook for rates.

The U.S. producer price inflation report is likely to be in the spotlight today along with Fed Chair Jerome Powell's remarks during a moderate discussion with De Nederlandsche Bank President Klaas Knot.

The consumer price inflation report is due on Wednesday and economists expect prices to climb by 0.4 percent in April, matching the increase seen in March.

The benchmark CAC 40 was marginally lower at 8,208 after ending 0.1 percent lower the previous day.

In corporate news, Veolia shares rallied 2.4 percent after the waste and water management company met first-quarter core profit expectations and announced it had bagged a $320 million water technology contract for a desalination plant in the United Arab Emirates.

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Yen Retreats Against Majors

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Asian Markets Trade Mostly Higher

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Asian stock markets are trading mostly higher on Monday, despite the broadly negative cues from Wall Street on Friday, boosted by strong gains in China, Hong Kong and South Korea. Trades also reacted to the US Fed Chair Jerome Powell's recent somewhat hawkish comments, suggesting doesn't need to hurry to lower rates. Asian markets closed mixed on Friday.
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