CAC 40 Slides On Earnings

RTTNews | 92 days 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
Swiss Market Ends On Buoyant Note

Swiss Market Ends On Buoyant Note

The Switzerland market closed on a buoyant note on Thursday after holding firm start to finish thanks to sustained buying at several counters after recent data from U.S. raised hopes of some interest rate cuts by the Federal Reserve this year.
RTTNews | 7h 17min ago
U.S. Dollar Drops After Fed Waller's Comments

U.S. Dollar Drops After Fed Waller's Comments

The U.S. dollar fell against its major counterparts in the New York session on Thursday, following dovish comments from Federal Reserve Governor Christopher Waller.
RTTNews | 7h 45min ago
European Stocks Close Higher On Some Positive Data, Rate Cut Hopes

European Stocks Close Higher On Some Positive Data, Rate Cut Hopes

European stocks closed on a positive note on Thursday with several major markets in the region rising to multi-month highs or new record highs, as some upbeat earnings updates, and encouraging European and U.S. economic data aided sentiment.
RTTNews | 8h 9min ago
ECB Minutes Show Policymakers Saw Room For More Easing

ECB Minutes Show Policymakers Saw Room For More Easing

European Central Bank policymakers were looking forward to more interest rate cuts, but they saw the need for a cautious approach due to several uncertainties that could derail inflation from its path to the 2 percent target, the minutes of the December 11-12 policy session showed on Thursday.
RTTNews | 9h 20min ago
U.S. Housing Market Index Unexpectedly Inches Up To Nine-Month High In January

U.S. Housing Market Index Unexpectedly Inches Up To Nine-Month High In January

Reflecting hopes for an improved economic growth and regulatory environment, the National Association of Home Builders released a report on Thursday unexpectedly showing a modest improvement by U.S. homebuilder confidence in the month of January. The report said the NAHB/Wells Fargo Housing Market Index crept up to 47 in January from 46 in December.
RTTNews | 11h 23min ago
Philly Fed Index Skyrockets To Highest Level Since April 2021

Philly Fed Index Skyrockets To Highest Level Since April 2021

The Federal Reserve Bank of Philadelphia released a report on Thursday showing a substantial turnaround by regional manufacturing activity in the month of January. The Philly Fed said its diffusion index for current general activity skyrocketed to a positive 44.3 in January from a negative 10.9 in December, with a positive reading indicating growth.
RTTNews | 11h 38min ago
U.S. Import Prices Inch Up 0.1% For Third Straight Month In December

U.S. Import Prices Inch Up 0.1% For Third Straight Month In December

Following yesterday's more closely watched report on consumer price inflation, the Labor Department released a report on Thursday showing import prices in the U.S. crept up in line with estimates in the month of December. The Labor Department said import prices inched up by 0.1 percent in December, matching the upticks seen in November and October as well as expectations.
RTTNews | 11h 42min ago
U.S. Retail Sales Rise 0.4% In December, Less Than Expected

U.S. Retail Sales Rise 0.4% In December, Less Than Expected

The Commerce Department released a report on Thursday showing retail sales in the U.S. increased by less than expected in the month of December. The report said retail sales rose by 0.4 percent in December after advancing by an upwardly revised 0.8 percent in November. Economists had expected retail sales to climb by 0.6 percent.
RTTNews | 11h 49min ago