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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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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6h 31min 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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7h 1min 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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8h 4min 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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8h 23min ago
Bay Street Looks Headed For Weak Start
Lower U.S. and Canadian futures, a sell-off in European markets and weak crude oil prices point to a negative start for the Canadian market on Friday. Fears of a U.S. government shutdown and tariff hike concerns may weigh as well.
Canadian retail sales data and U.S. PCE reading are set to significantly impact sentiment.
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9h 1min ago
Russia Central Bank Unexpectedly Holds Key Rate
Russia's central bank left its benchmark interest rate unchanged on Friday, confounding expectations for a sharp hike.
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9h 31min ago
UK Car Manufacturers Report Worst Production For November Since 1980
UK car production posted its sharpest decline for the month of November since 1980 largely reflecting weaker global demand, data published by the Society of Motor Manufacturers and Traders showed on Friday. Car production declined 30.1 percent on a yearly basis in November. This was the ninth consecutive decline.
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10h 49min ago
FedEx Stock Up On Freight Spin Off, Despite Weak Earnings, Outlook Cut
Shares of FedEx Corp. gained around 9 percent in the extended trading on the NYSE on Thursday and is currently trading 8 percent higher on the pre-market activity after the logistics major announced its plan to spin-off its Freight division, and additional $500 million share buyback. Meanwhile, the company trimmed its fiscal 2025 earnings and revenue view after reporting weak results in its second
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11h 15min ago
