CAC 40 Climbs As Biden Says US Can Avert Recession
(RTTNews) - French stocks advanced on Friday amid optimism that China's economy is poised for a steady recovery from the COVID-19 impact.
Investors were also reacting to comments by U.S. President Joe Biden that a U.S. recession isn't inevitable and that the country was "in a stronger position than any nation in the world to overcome inflation."
The benchmark CAC 40 rose 49 points, or 0.8 percent, to 5,935 after declining 2.4 percent in the previous session.
EssilorLuxottica SA shares rose over 2 percent. The provider of ophthalmic lenses and frame said it will buy back up to 2.5 million shares in the period starting from June 17 to August 31, for a price not exceeding 200 euros per share.
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Canadian Markets Remains In Negative Territory; Energy, Materials Shares Decline
After opening slightly up, the Canadian market tumbled into negative territory Friday morning as tariff threats and weak commodity prices, as well a few disappointing earnings updates prompted investors to press sales at several counters. Preliminary data showing a likely drop in retail sales in January is weighing as well.
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5h 21min ago
U.S. Consumer Sentiment Plunges To Lowest Level Since November 2023
A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by much more than previously estimated in the month of February. The University of Michigan said its consumer sentiment index for February was downwardly revised to 64.7 from a preliminary reading of 67.8. Economists had expected the index to be unrevised.
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7h 37min ago
U.S. Existing Home Sales Pull Back Sharply In January
Existing home sales pulled back sharply in the month of January, according to a report released by the National Association of Realtors on Friday. NAR said existing home sales plunged by 4.9 percent to an annual rate of 4.08 million in January after surging by 2.9 percent to an upwardly revised rate of 4.29 million in December.
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7h 51min ago
Meta Hikes Executive Bonuses To 200% Of Salaries, Excluding CEO
Meta Platforms, Inc. announced the approval of a hefty increase in bonuses of its select executive officers under the new executive bonus plan, excluding Chief Executive Officer Mark Zuckerberg. The news comes close on the heels of the tech major's recent announcement of significant growth in its fourth-quarter results and positive outlook, as well as the layoff of 5% of its overall workforce.
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8h 57min ago
Bay Street May Open With Slightly Negative Bias
Canadian shares may open with a negative bias Friday morning as energy and materials stocks are likely to be under some pressure due to lower commodity prices. Canadian retail sales data may provide some direction.
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9h 43min ago
Eurozone Private Sector Expands In February
The euro area private sector managed to grow for the second straight month in February with the deepening contraction in France being offset by a moderate rebound in Germany, flash data from the purchasing managers' survey by S&P Global showed on Friday.The flash composite output index remained unchanged at 50.2 in February. Economists had forecast the indicator to rise to 50.5.
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10h 9min ago
Swiss Franc Rises Against Majors
The Swiss franc strengthened against other major currencies in the European session on Friday.
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12h 8min ago
German Private Sector Growth Picks Up
Germany's private sector growth picked up in February as services activity showed a steady expansion and manufacturing contracted at the slowest pace in two years, flash survey data from S&P Global revealed Friday. The flash composite output index came in at 51.0 in February, up from 50.5 in January. This was the highest reading in nine months and was above forecast of 50.8. A score above 50.0 i
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12h 16min ago
