CAC 40 Drifts Lower As Powell Dashes Rate-cut Hopes
(RTTNews) - French stocks traded lower on Friday after Federal Reserve Chair Jerome Powell signalled a cautious approach on rate cuts, given persistent inflationary pressures.
Powell said the U.S. central bank does not need to rush to lower interest rates and can approach decisions carefully.
The benchmark CAC 40 was down 30 points, or 0.4 percent, at 7,281 after climbing 1.3 percent on Thursday.
Energy company TotalEnergies was marginally higher after it joined forces with BP, Equinor and Shell to invest in support of the UN Sustainable Development Goal 7 (UN SDG7).
Drug maker Sanofi tumbled 3.4 percent after U.S. President-elect Donald Trump tapped anti-vaccine activist and conspiracy theorist Robert F. Kennedy as his secretary of health.
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Pound Slides On Disappointing U.K. GDP Data
The British pound weakened against other major currencies in the European session on Friday, after data showed a sharp slowdown in the third quarter growth.
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6h 19min ago
Domino's, Pool Corp. Climb After Buffett's Berkshire Buys Stake
Shares of Domino's Pizza Inc. and swimming pool supplier Pool Corp. gained significantly in the extended trading in New York on Thursday after billionaire investor Warren Buffett's Berkshire Hathaway Inc. took stake in them. In the pre-market activity, Domino's shares were moving up 8 percent and Pool shares were up 7 percent.
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7h 1min ago
Pound Slides Against Majors
The British pound weakened against other major currencies in the European session on Friday.
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7h 3min ago
European Shares Slide As Powell Signals Careful Approach To Rate Cuts
European stocks declined on Friday as Federal Reserve Chair Jerome Powell signaled a cautious approach on rate cuts and mixed Chinese data stoked concerns about slowing demand in the country.
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7h 23min ago
FTSE 100 Little Changed After GDP Data; Volex Shares Slump 13%
U.K. stocks were little changed on Friday and the pound hovered near a four-month low after data showed Britain's economy contracted unexpectedly in September and growth slowed to a crawl over the third quarter.
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7h 46min ago
Canadian Dollar Slides As Crude Oil Prices Drop
The Canadian dollar weakened against other major currencies in the European session on Friday, as crude oil prices declined amid worries about oversupply by growing U.S. crude stocks.
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8h 5min ago
DAX Slides On Rate Woes; Evotec Shares Jump 18%
German stocks were notably lower on Friday after Federal Reserve Chairman Jerome Powell damped market expectations of quick interest rate cuts.
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8h 16min ago
China Industrial Output Rises Less Than Forecast; Retail Sales Growth Accelerates
China industrial production growth slowed unexpectedly in October and the decline in property investment deepened but retail sales growth accelerated as recent stimulus measures strengthened consumer sentiment. Industrial production posted an annual growth of 5.3 percent in October after rising 5.4 percent in September, the National Bureau of Statistics said Friday.
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8h 18min ago
