CAC 40 Edges Lower As Investors React To China's Stimulus Announcement

RTTNews | 7h 35min ago
CAC 40 Edges Lower As Investors React To China's Stimulus Announcement

(RTTNews) - French stocks were little changed on Friday as China's top legislative body - the National People's Congress (NPC) - approved the State Council's proposal to increase local government debt limit by $839 billion after a week-long session.

There was some disappointment as the hotly anticipated stimulus was not as broad or immediate as initially presumed.

The benchmark CAC 40 was down 11 points, or 0.2 percent, at 7,414 after climbing 0.8 percent the previous day.

Eurozone bond yields dipped after a busy week of central bank meetings and amid the collapse of the German government.

Luxury stocks LVMH, Kering and Hermes fell 2-3 percent after Cartier owner Richemont posted a 20 percent drop in net profit for the first half of the year.

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Pound Falls Against Majors

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The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 5h 53min ago
Sensex, Nifty End Marginally Lower

Sensex, Nifty End Marginally Lower

Indian shares moved in a narrow range before finishing marginally lower on Friday after a busy week of central bank meetings and Donald Trump's victory in the U.S. presidential election.
RTTNews | 6h 16min ago
Richemont H1 Profit Hits On Weak China Demand; Stock Dips

Richemont H1 Profit Hits On Weak China Demand; Stock Dips

Shares of Compagnie Financiere Richemont AG were losing around 4 percent in the morning trading in Switzerland after the Swiss luxury goods group reported Friday sharply lower profit in its first half with wider loss from discontinued operations as well as slightly lower sales. Weak demand in Asia Pacific, mainly China, offset improved performance in all other regions.
RTTNews | 7h 3min ago
European Shares Slide As China Approves $838bn Debt Swap

European Shares Slide As China Approves $838bn Debt Swap

European stocks drifted lower on Friday as China's top legislative body - the National People's Congress (NPC) - approved the State Council's proposal to increase local government debt limit by $838 billion after a week-long session.
RTTNews | 7h 11min ago
Yen Rises After Fed Rate Cut

Yen Rises After Fed Rate Cut

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RTTNews | 9h 5min ago