CAC 40 Gains On Rate Cut Bets

RTTNews | 16 days ago
CAC 40 Gains On Rate Cut Bets

(RTTNews) - French stocks traded higher on Wednesday as traders increased bets that the European Central Bank will cut interest rates by another 25 basis points on Oct. 17 due to falling inflation and weak economic activity in the region.

The dollar held onto its big gains in a week as Iran's missile attack on Israel drove the buying of safe-haven assets.

The benchmark CAC 40 was up 45 points, or 0.6 percent, at 7,619 after losing 0.8 percent the previous day.

In corporate news, TotalEnergies jumped 3.4 percent as oil extended an overnight rally on concerns that Middle East tensions could escalate and potentially disrupt crude output from the region.

Also, the company has announced the final investment decision for the GranMorgu development located on offshore Block 58 in the Republic of Suriname with total investment of around $10.5 billion.

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Australian Dollar Rises After China GDP Data

Australian Dollar Rises After China GDP Data

The Australian dollar strengthened against other major currencies in the Asian session on Friday, after China's economy grew at the slowest pace in more than a year in the third quarter.
RTTNews | 4h 56min ago
Google Names Nick Fox New Search Head, Prabhakar Raghavan Chief Technologist In AI Reshuffle

Google Names Nick Fox New Search Head, Prabhakar Raghavan Chief Technologist In AI Reshuffle

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RTTNews | 5h 15min ago
UK Retail Sales Rise Unexpectedly

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UK retail sales logged an unexpected growth in September on higher sales of technology products, the Office for National Statistics said Friday. Retail sales grew 0.3 percent on month in September, confounding expectations for a 0.3 percent fall. This marked the third consecutive increase. Sales had increased 1.0 percent in August and 0.8 percent in July.
RTTNews | 5h 18min ago
European Economic News Preview: UK Retail Sales Data Due

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RTTNews | 6h 47min ago
China Economy Logs Weakest Growth Since Early 2023

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China's economy grew at the slowest pace in more than a year in the third quarter despite an improvement in retail sales as the property market continued to be a major drag on growth. Gross domestic product expanded 4.6 percent on a yearly basis in the third quarter, data from the National Bureau of Statistics showed on Friday. This was the weakest growth since the first quarter of 2023.
RTTNews | 6h 55min ago
European Shares Seen Tad Lower After Mixed China Data

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European stocks look set to open a tad lower on Friday as mixed Chinese data released earlier today coupled with the lack of concrete stimulus details stirred concerns about the country's economic trajectory.
RTTNews | 7h 8min ago