CAC 40 Slides As PM Barnier Flags Tax Hikes On Wealthy
(RTTNews) - French stocks traded lower on Monday after a survey showed France's services sector contracted sharply in September, following a strong August driven by the Olympic Games.
Investors were also reacting to Prime Minister Michel Barnier's comments that his new government could increase taxes for big business and the wealthiest to help tackle the budget deficit.
The benchmark CAC 40 was down 37 points, or half a percent, at 7,463 after declining 1.5 percent on Friday.
In corporate news, TotalEnergies was marginally lower as it signed a pact to supply up to 1.5 million tons of more sustainable aviation fuel to Air France-KLM over a 10-year period. Shares of the latter were down more than 3 percent.
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TSX Continues To Move Up North, Ends 0.53% Up At New High
The Canadian market climbed to a new record high on Friday, rising for a third straight day, thanks to strong gains in materials stocks as metal prices surged to record highs. Continued optimism about interest rate cuts by the Bank of Canada also aided sentiment.
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Dollar Turns Weak After Recent Gains
The U.S. dollar turned a bit weak on Friday, snapping a five-day winning streak, with global stocks moving higher on increased risk appetite after the Chinese government announced a couple of funding schemes.
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TSX Rises To New High; Materials Shares Rally
The Canadian market is up firmly in positive territory Friday afternoon after posting a new high for the third straight day. Materials stocks are contributing to the move up north, with firm metal prices triggering hectic buying at several counters in the sector.
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Canadian Dollar Weakens As Oil Prices Fall
The Canadian dollar declined against its most major counterparts in the New York session on Friday, as oil prices dropped on concerns about slowing demand from China.
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Swiss Market Closes Modestly Higher
The Switzerland market ended modestly higher on Friday after a choppy ride as investors looked ahead to more interest rate cuts from central banks after the European Central Bank cut rates for the third time this year.
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Major European Markets Close Higher
European stocks closed higher on Friday and the major markets in the region posted second straight week of gains, as investors continued to cheer the European Central Bank's rate cut decision, and remained optimistic about more rate cuts by several other central banks.
Markets also reacted to positive economic data from China, and digested the latest batch of earnings updates and other corporate
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U.S. Housing Starts Pull Back Modestly As Multi-Family Starts Extend Plunge
After reporting a sharp increase in new residential construction in the U.S. in the previous month, the Commerce Department released a report on Friday showing a modest pullback by housing starts in the month of September. The Commerce Department said housing starts fell by 0.5 percent to an annual rate of 1.354 million in September.
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CPSC Recalls: Textron ROVs, Colsen Fire Pits, Anker Power Banks, Oliva Cigar Lighters
The U.S. Consumer Product safety Commission or CPSC has announced recalls including Textron Specialized Vehicles' Recreational Off Highway vehicles, Colsen Fire Pits LLC's Fire Pits, Anker Innovations Ltd.'s Anker Power Banks, and Oliva Cigars Co. Inc.'s Cigar Lighters, citing various reasons. In most of the recalls, consumers are urged to immediately stop using the recalled product
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