CAC 40 Declines As Trump Threatens Europe With Tariffs
(RTTNews) - French stocks traded sharply lower on Friday as the U.S. faced a government shutdown after President-elect Donald Trump abruptly rejected a bipartisan plan.
Tariff worries also spooked markets after U.S. President-elect Donald Trump warned the European Union to buy more U.S. oil and gas or face tariffs.
The benchmark CAC 40 dropped 98 points, or 1.4 percent, to 7,196 after declining 1.2 percent on Thursday.
In corporate news, Credit Agricole declined 1.6 percent after the bank announced the acquisition of Santander's 30.5 percent stake in CACEIS, its asset servicing subsidiary.
Drug major Sanofi fell 1.1 percent after it agreed to acquire CORXEL's rights relating to aficamten in Greater China for an undisclosed amount.
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Canadian Stocks Up Firmly After Long Losing Streak, Set To End On Bright Note
Canadian stocks are firmly up in positive territory on Friday, rebounding strongly with investors indulging in some hectic bargain hunting after six straight days of losses.
The market's rise is also due to the positive reaction to the Federal Reserve's preferred readings on consumer price inflation.
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5h 27min ago
U.S. Dollar Drops After Soft PCE Inflation Data
The U.S. dollar declined against its major counterparts in the New York session on Friday, as a slowdown in PCE inflation for November bolstered the prospect of slower pace of rate cuts by the Federal Reserve next year.
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6h 17min ago
Swiss Market Ends Modestly Lower
Swiss stocks found some support in late afternoon trades on Friday, but still ended the day's session on a weak note.
The mood remained cautious amid concerns about the outlook for global economy in the wake of tariff threats by the U.S., fears of a U.S. government shutdown, and recent hawkish comments from the Fed that interest rate cuts will be fewer next year than earlier forecast.
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6h 36min ago
European Stocks Close Lower Again
European stocks closed lower on Friday, extending losses from the previous session, as concerns about political uncertainty in some major European countries, fears of a U.S. government shutdown, and potential tariffs on the European Union weighed on sentiment.
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6h 55min ago
U.S. Consumer Sentiment Improves In Line With Preliminary Estimate In December
The University of Michigan released a report on Friday showing consumer sentiment in the U.S. improved in line with its preliminary estimate in the month of December. The report said the consumer sentiment index for December was unrevised from the preliminary estimate of 74.0, in line with economists' expectations. The consumer sentiment index increased from 71.8 in November.
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10h 9min ago
U.S. Consumer Prices Inch Higher In November, Annual Growth Accelerates Slightly Less Than Expected
Consumer prices in the U.S. crept slightly higher in the month of November, according to a closely watched report released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index inched up by 0.1 percent in November after rising by 0.2 percent in October. Economists had expected prices to increase by another 0.2 percent.
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10h 39min ago
U.S. Consumer Prices Inch Up Slightly Less Than Expected In November
Consumer prices in the U.S. crept slightly higher in the month of November, according to a closely watched report released by the Commerce Department on Friday.
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11h 42min ago
UK Retail Sales Rise Less Than Forecast
UK retail sales grew for the first time in three months in November but the pace of expansion was weaker than expected as consumers were cautious in the wake of government's first budget. A closely watched survey showed that retailers reported a moderate fall in retail sales in December despite festive season and they forecast another decrease in January.
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12h 1min ago
