CAC 40 Slides On Earnings

RTTNews | 7h 22min ago
CAC 40 Slides On Earnings

(RTTNews) - French stocks traded lower on Wednesday, with weak earnings and caution ahead of a European Central Bank (ECB) policy meeting on Thursday denting investor sentiment.

The ECB is likely to deliver another interest rate cut after recent data signaled continued weakness in the euro zone economy.

The benchmark CAC 40 was down 46 points, or 0.6 percent, at 7,476 after declining 1.1 percent in the previous session.

LVMH slumped 4 percent after sales of fashion and leather goods unexpectedly fell at its biggest unit for the first time since 2020.

Peer Kering dropped 2.3 percent and Hermes International gave up 1.7 percent.

Rexel SA plunged 4.6 percent. The distributor of electrical supplies cut its 2024 outlook due to negative trading environment in Europe.

read more
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

Canadian shares are likely to open on a mixed note Wednesday morning, tracking commodity prices. The focus will also be on some key earnings updates from major U.S. companies. Optimism about more interest rate cuts by central banks, including the Federal Reserve and the Bank of Canada may help underpin sentiment.
RTTNews | 4h 9min ago
Sensex, Nifty End Modestly Lower On Weak Global Cues

Sensex, Nifty End Modestly Lower On Weak Global Cues

Indian shares closed lower on Wednesday, with continued foreign fund outflows, reduced bets on larger Fed rate cuts and disappointing earnings updates from the likes of LVMH and ASML Holding weighing on markets.
RTTNews | 6h 2min ago
Pound Slides As U.K. Inflation Hits Three-year Low

Pound Slides As U.K. Inflation Hits Three-year Low

The British pound weakened against other major currencies in the European session on Wednesday, after U.K. inflation fell below the 2 percent target and also hit the lowest in more than three years in September, piling pressure on the Bank of England to ease policy at the November meeting.
RTTNews | 6h 27min ago
European Shares Mostly Lower As Earnings Disappoint

European Shares Mostly Lower As Earnings Disappoint

European stocks were broadly lower on Wednesday as investors digested a slew of disappointing earnings updates and awaited a European Central Bank policy meeting on Thursday for directional cues.
RTTNews | 6h 52min ago
FTSE 100 Gains As Inflation Hits Three-year Low

FTSE 100 Gains As Inflation Hits Three-year Low

U.K. stocks advanced on Wednesday after official data showed U.K. inflation fell below the 2 percent target and also hit the lowest in more than three years in September, piling pressure on the Bank of England to ease policy at the November meeting.
RTTNews | 7h 10min ago
DAX Drifts Lower Ahead Of ECB Rate Decision

DAX Drifts Lower Ahead Of ECB Rate Decision

German stocks were moving lower on Wednesday and the euro was down for a third day in a row as investors await Thursday's ECB meeting for directional cues.
RTTNews | 7h 33min ago
Philippine Central Bank Lowers Key Rates By 25 Bps

Philippine Central Bank Lowers Key Rates By 25 Bps

The Philippine central bank reduced its benchmark rates by 25 basis points for the second straight meeting on Wednesday, as inflation remained low. The Monetary Board of the Bangko Sentral ng Pilipinas lowered the target reverse repurchase rate to 6.00 percent from 6.25 percent. The interest rates on the overnight deposit and lending facilities were accordingly adjusted.
RTTNews | 7h 40min ago
Asian Shares Decline Amid Tech Selloff

Asian Shares Decline Amid Tech Selloff

Asian stocks fell broadly on Wednesday due to lingering Middle East tensions, shifting U.S. rate cut expectations and reports suggesting that the U.S. is mulling a cap on export licenses for AI chips to specific countries.
RTTNews | 7h 45min ago