CAC 40 Slides On Weak Data

RTTNews | 895 days ago
CAC 40 Slides On Weak Data

(RTTNews) - French stocks declined on Thursday after Federal Reserve Chair Jerome Powell said a soft landing for the economy is going to be very challenging and a recession is possible.

Adding to growth worries, France's business activity data for June came in weaker than forecast.

The June composite PMI flash figure which comprises the services and manufacturing sectors dropped to 52.8 points from 57.0 points in May, according to a S&P Global survey.

The benchmark CAC 40 fell 68 points, or 1.2 percent, to 5,848 after closing 0.8 percent lower in the previous session.

Air Liquide shares tumbled 2.2 percent. The company which supplies industrial gases and services to various industries and Germany's Siemens Energy have announced a joint venture for the series production of industrial scale renewable hydrogen electrolyzers in Europe.

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Final composite and services Purchasing Managers' survey results from the euro area and the UK are due on Wednesday, headlining a busy day for the European economic news. At 3.15 am ET, Spain's services Purchasing Managers' survey data is due. Economists expect the index to fall to 53.6 in November from 54.9 in the previous month.
RTTNews | 8h 28min ago
Aussie Falls As Weaker GDP Growth Spurs RBA Rate Cut Speculation

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RTTNews | 8h 59min ago
Asian Markets Trade Mixed

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Asian stock markets are trading mixed on Wednesday, following the mixed cues from Wall Street overnight, as traders react to the political turmoil in South Korea, a deepening political crisis in France and faltering economic growth in China, with the South Korean market plunging over 2 percent. They also remain optimistic about an interest rate cut by the US Fed in December.
RTTNews | 10h 19min ago