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CAC-40 Drops As Inflation Spike Fuels Rate Hike Fears
(RTTNews) - The CAC-40 traded with losses on Wednesday amidst renewed concerns about inflation and interest rate hikes. Data confirmed annual inflation in the Euro zone at 6.9 percent whereas inflation readings from U.K. came in higher than expected.
The CAC-40 is currently trading at 7,518.57, losing 0.20 percent from the previous close. The day's trading has been between 7,513.77 and 7540.97.
Of the 40 scrips in the index, only 15 are trading in positive territory.
Worldline rallied 1.9 percent followed by AXA that gained 1.1 percent.
Renault shed 3.8 percent. Eurofins Scientific dropped 2.3 percent. ArcelorMittal, Unibail-Rodamco-Westfield, Vivendi, STMicroelectronics, TotalEnergies and Teleperformance lost more than a percent.
The Dollar's strength lifted the Dollar Index 0.33 percent to 102.08, dragging down the EUR/USD pair 0.36 percent to 1.0931.
Rate hike expectations reflected in the yield on the ten-year bond rising 1.52 percent overnight to 3.016% from the previous close of 2.966%.
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