CAC 40 Slides In Cautious Trade On SVB Fallout Concerns
(RTTNews) - French stocks were moving lower on Wednesday after annual inflation was revised upwards to 7.3 percent in February from 7.0 percent in January as a result of higher food prices.
Investors also kept a close eye on the developments surrounding the SVB crisis after Moody's Investors downgraded the outlook on the U.S. banking system to 'negative' from 'stable'.
The benchmark CAC 40 was down 43 points, or 0.6 percent, at 7,099 after gaining 1.8 percent the previous day.
Logistics company Bollore soared 8 percent after posting a rise in fourth-quarter revenue and announcing plans to launch a cash tender offer to acquire a maximum of just over 288.6 million shares, representing 9.78 percent of its share capital.
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TSX Remains Positive Despite Coming Off Early Highs
The Canadian market has pared most of its gains Wednesday afternoon, with investors largely reacting to earnings updates, and monitoring geopolitical developments.
Despite concerns about fresh tariffs, the market is positive as news about U.S. and Ukraine agreeing on a minerals deal is aiding sentiment.
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5h 56min ago
Swiss Market Ends Marginally Up
The Switzerland market pared some intraday gains and ended marginally up on Wednesday as stocks stayed a bit sluggish past mid afternoon.
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7h 6min ago
European Stocks Close On Firm Note On Results
European stocks closed higher on Wednesday, reacting to some strong earnings updates, and slightly easing geopolitical concerns following Ukraine and the U.S. agreeing on a minerals deal.
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7h 37min ago
U.S. New Home Sales Plunge Much More Than Expected In January
A report released by the Commerce Department on Wednesday showed a substantial pullback by new home sales in the U.S. in the month of January. The Commerce Department said new home sales plunged by 10.5 percent to an annual rate of 657,000 in January after spiking by 8.1 percent to an upwardly revised rate of 734,000 in December.
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9h 54min ago
Bay Street Likely To Open On Positive Note
Canadian shares are likely to open higher Wednesday morning, tracking positive global cues, and encouraging earnings from National Bank of Canada.
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12h 27min ago
German Consumer Confidence To Continue Negative Trend
Consumer sentiment in Germany is set to continue its negative trend as higher prices, economic and political uncertainty weigh on households' income expectations and their willingness to buy, a closely watched survey showed on Wednesday. The forward-looking consumer sentiment index unexpectedly fell to -24.7 in March from -22.6 in February, a survey jointly published GfK and NIM revealed.
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13h 2min ago
Thailand Cuts Key Interest Rate By 25 Bps
The Thai central bank reduced its key interest rate on Wednesday to address the increasing downside risks to the economy amid persistently low inflation. The Monetary Policy Committee of Bank of Thailand voted 6-1 to cut the policy rate by 25 basis points to 2.00 percent from 2.25 percent. One rate-setter preferred to keep the rate unchanged.
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13h 42min ago
Hong Kong Budget Focuses On Spending Cuts, Promoting AI
Hong Kong Financial Secretary Paul Chan unveiled the budget on Wednesday that largely focused on government spending cuts with minimal impact on people's livelihood and underscored the importance of artificial intelligence to enhance competitive edge. The government estimated a consolidated deficit of HK$87.2 billion for 2024-25, which was smaller than the HK$100 billion previous projection.
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14h 10min ago
