CAC 40 Slides After Hawkish Shift At Fed; Banks Hit Hard

RTTNews | 82 days ago
CAC 40 Slides After Hawkish Shift At Fed; Banks Hit Hard

(RTTNews) - French stocks fell notably on Thursday after the U.S. Federal Reserve cut interest rates, as expected, but warned that rate cuts may not come so easily in 2025 as anticipated earlier.

Meanwhile, the confidence among French manufacturers held steady in December after showing some recovery trends in the previous month, monthly data from the statistical office INSEE revealed today.

The manufacturing sentiment index stood at 97 in December, the same as in November. Further, the index remained below its long-term average of 100. The expected score was 96.0.

The balances of opinion on order books have increased again, but all those relating to production have decreased, the survey said.

The benchmark CAC 40 dropped 61 points, or 0.8 percent, to 7,323 after gaining 0.3 percent on Wednesday.

Banks BNP Paribas, Credit Agricole and Societe General all fell around 1 percent.

Renault rose 1.2 percent after reports emerged that Foxconn is in talks with Nissan Motor Co.'s biggest shareholder Renault about its willingness to sell its shares in the Japanese automaker.

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Asian Markets A Sea Of Red

Asian Markets A Sea Of Red

Asian stock markets are a sea of red on Tuesday, following the broadly negative cues from Wall Street overnight, amid increasing worries the U.S. is headed for a recession and concerns over the health of the world economy following the likely impact of President Donald Trump's tariffs and trade policies. Asian markets closed mostly higher on Monday.
RTTNews | 6h 50min ago
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian stock market is trimming its early losses in mid-market trading on Tuesday, but extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 7,900 level, with weakness is mining and technology stocks partially offset by gains in energy and financial stocks.
RTTNews | 7h 22min ago
Lower Open Called For Thai Stock Market

Lower Open Called For Thai Stock Market

The Thai stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day slide in which it had tumbled almost 40 points or 3.2 percent. The Stock Exchange of Thailand now sits just above the 1,175-point plateau and it figures to see continued consolidation on Tuesday.
RTTNews | 8h 7min ago
Losses May Accelerate For Indonesia Stock Market

Losses May Accelerate For Indonesia Stock Market

The Indonesia stock market on Monday ended the three-day winning streak in which it had surged more than 350 points or 5.4 percent. The Jakarta Composite Index now sits just beneath the 6,600-point plateau and it may extend its losses on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.
RTTNews | 8h 37min ago
Japanese Market Sharply Lower, Down 2.6%

Japanese Market Sharply Lower, Down 2.6%

The Japanese stock market is trading sharply lower on Tuesday, reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling well below the 36,100 level, with weakness across most sectors led by index heavyweights, exporters and technology stocks.
RTTNews | 8h 40min ago