CAC 40 Declines On China Concerns
(RTTNews) - French stocks traded lower on Wednesday due to concerns about slowing Chinese growth and the widening U.S. fiscal deficit.
The benchmark CAC 40 dropped 34 points, or half a percent, to 7,501 after ending little changed the previous day.
L'Oreal tumbled 4 percent after the cosmetics giant reported a rise in third quarter sales that missed expectations due to low consumer confidence in China.
Thales gave up 2 percent despite reporting higher sales and orders in the first nine months of the year.
Air Liquide dropped 1 percent. The industrial gases supplier delivered third-quarter revenue in line with market expectations.
Ipsen fell 1.3 percent. The global specialty-care biopharmaceutical company reported strong sales momentum in the first nine months of 2024.
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Dollar Rises After Trump Tariff Threats, But Pares Gains Against Some Major Counterparts
After a mild setback during the fag end of the European session, the U.S. dollar edged higher in the New York session on Tuesday with investors assessing the impact of President-elect Donald Trump's pledge to impose tariffs on all imports from Mexico, Canada and China.
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5h 27min ago
Fed Officials Favor Gradual Interest Rate Cuts, Minutes Show
Federal Reserve officials believe it will be appropriate to "gradually" lower interest rates, according to the minutes of the central bank's latest monetary policy meeting. The minutes said officials feel a gradual approach to lowering rates to a more neutral stance will be appropriate if economic data come in "about as expected."
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7h 43min ago
Japanese Yen Advances Amid Concerns About Trump's Tariff Threats
The Japanese yen strengthened against other major currencies in the New York session on Tuesday, as U.S. President-elect Donald Trump pledged to impose tariffs on all imports from Mexico, Canada and China on his first day in office, raising fears of a renewed trade war.
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8h 11min ago
Swiss Market Ends On Weak Note
After early weakness, the Switzerland market briefly moved above the flat line around mid afternoon on Tuesday, but retreated soon and finally ended the day's session with a moderate loss.
The mood was a bit bearish after U.S. President-elect Donald Trump stated on social media that he would impose tariffs on all imports from Mexico, Canada and Chin
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8h 48min ago
European Stocks Close Lower As Trade War Fears Resurface
European stocks closed weak on Tuesday as trade war fears resurfaced after U.S. President-elect Donald Trump pledged to impose tariffs on all imports from Mexico, Canada and China immediately after taking office in January 2025.
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9h 12min ago
U.S. Consumer Confidence Continues To Improve In November
After reporting a significant rebound by U.S. consumer confidence in the previous month, the Conference Board released a report on Tuesday showing consumer confidence continued to improve in November. The Conference Board said its consumer confidence index rose to 111.7 in November after surging to an upwardly revised 109.6 in October.
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11h 39min ago
U.S. New Home Sales Pull Back Much More Than Expected In October
A report released by the Commerce Department on Tuesday showed a substantial pullback by new home sales in the U.S. in the month of October. The Commerce Department said new home sales saw a 17.3 percent nosedive to an annual rate of 610,000 in October after spiking by 7.0 percent to a rate of 738,000 in September. Economists had expected new home sales to decrease to a rate of 730,000.
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11h 42min ago
Intel To Get $7.865 Bln Govt. Grant For US Semiconductor Projects
The U.S. government has offered Intel Corp. up to $7.865 billion in direct funding for its commercial semiconductor manufacturing projects, which is expected to create thousands of jobs. The latest award, together with a 25% investment tax credit which the firm plans to claim, would support the chip maker's plans to invest more than $100 billion in the U.S.
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12h 51min ago
