CAC 40 Gains As Macron Prepares To Appoint New PM

RTTNews | 7h 35min ago
Stocktwits
CAC 40 Gains As Macron Prepares To Appoint New PM

(RTTNews) - French stocks eked out modest gains on Thursday as investors wait for President Emmanuel Macron to appoint a new prime minister.

Macron is seeking a political deal that would allow him to both name a new prime minister and "guarantee the stability of the country," a spokesperson for the outgoing government said Wednesday and insisted there was at the moment no "broader" political alliance than the current one between his centrist allies and conservatives from the Republicans party.

Investors also seek direction from a European Central Bank rate decision later in the day.

The benchmark CAC 40 was up 12 points, or 0.2 percent, at 7,435 after closing 0.4 percent higher on Wednesday.

In corporate news, semiconductor company STMicroelectronics rose about 1 percent after forging a strategic collaboration with Quobly, a French quantum computing startup.

Stocktwits
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Adobe Q4 Earnings Beat Market, Sees Growth Ahead; But Shares Hit

Adobe Q4 Earnings Beat Market, Sees Growth Ahead; But Shares Hit

Software major Adobe Inc. issued positive outlook for first quarter and fiscal 2025 earnings and revenues, after reporting higher fourth-quarter results above market. Meanwhile, the shares declined around 9 percent in the after-hours trading on Wednesday, and is currently down around 11 percent in the pre-market activity on the Nasdaq.
RTTNews | 5h 33min ago
Swiss Franc Falls On SNB's Surprise Rate Cut

Swiss Franc Falls On SNB's Surprise Rate Cut

The Swiss franc weakened against other major currencies in the European session on Thursday, after the Swiss National Bank reduced its benchmark rate by a sharper-than-expected 50 basis points to curb the strength of the Swiss franc.
RTTNews | 6h 26min ago
Swiss Central Bank Cuts Policy Rate By 50 Bps

Swiss Central Bank Cuts Policy Rate By 50 Bps

Amid easing inflationary pressures, the Swiss National Bank reduced its benchmark rate by a sharper-than-expected 50 basis points to curb the strength of the Swiss franc. At the first policy meeting of Martin Schlegel as chairman, the policy rate was lowered to 0.50 percent from 1.00 percent. The new rate takes effect on December 13.
RTTNews | 6h 51min ago
DAX Edges Higher As Swiss National Bank Announces Big Rate Cut

DAX Edges Higher As Swiss National Bank Announces Big Rate Cut

German stocks edged up slightly on Thursday as the Swiss National Bank cut its interest rate by 50 basis points, its biggest reduction in almost 10 years amid an ongoing tussle with depressed inflation and a strong Swiss franc.
RTTNews | 7h 47min ago
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