CAC 40 Slips Into Red As Macron Backs Temporary Tax On Large Companies

RTTNews | 57 days ago
CAC 40 Slips Into Red As Macron Backs Temporary Tax On Large Companies

(RTTNews) - French stocks drifted lower on Thursday after President Emmanuel Macron endorsed a temporary tax on the country's largest companies to get the public finances back on track.

Also weighing on sentiment, a survey showed France's services sector contracted in September, albeit less than initially expected.

The benchmark CAC 40 dropped 62 points, or 0.8 percent, to 7,514 after edging up marginally the previous day.

In corporate news, supermarket group Casino dropped half a percent after confirming it is the subject of a preliminary investigation by France's national financial prosecution office over charges of price manipulation and corruption dating back to 2018 and 2019.

Alstom rallied 2.2 percent after receiving an order from Proxima for 12 Avelia Horizon very high-speed trains.

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Eurozone Inflation Accelerates To 2.3%

Eurozone Inflation Accelerates To 2.3%

Euro area inflation climbed for a second straight month in November, while the core figure was unchanged, making way for a cautious interest rate cut by the European Central Bank next month.
RTTNews | 5h 42min ago
UK Mortgage Approvals At More Than 2 Year High

UK Mortgage Approvals At More Than 2 Year High

UK mortgage approvals increased to the highest level in more than two years in October as falling interest rates boosted housing market activity but consumers became more cautious about borrowing and saving ahead of the Autumn Budget. Mortgage approvals for house purchases, an indicator of future borrowing, increased to 68,303 in October from 66,115 in the prior month, the Bank of England report
RTTNews | 8h 26min ago
Bay Street May Open Higher On Firm Metal Prices; GDP Data In Focus

Bay Street May Open Higher On Firm Metal Prices; GDP Data In Focus

Canadian shares may open higher on Friday with materials stocks set to ride on strong gold and silver prices. Data on Canadian GDP data for the third quarter is due out at 8:30 AM ET. As the U.S. market will close early today, volume of business on Bay Street will be thin for a second straight day.
RTTNews | 9h 0min ago
German Unemployment Rises Less Than Forecast

German Unemployment Rises Less Than Forecast

German unemployment increased less than expected in November despite companies reporting job cuts, figures from the Federal Employment Agency revealed Friday. The jobless rate came in at 6.1 percent, the same as in September and October. Also, the rate matched expectations. The number of people out of work increased only 7,000 after rising 26,000 in the previous month.
RTTNews | 9h 29min ago
French GDP Growth Accelerates; Inflation Rises Marginally

French GDP Growth Accelerates; Inflation Rises Marginally

The French economic growth accelerated as estimated in the third quarter on the Paris Olympic and Paralympic Games and inflation rose only marginally in November, official data revealed on Friday. Gross domestic product logged a quarterly growth of 0.4 percent in the third quarter, which was unchanged from the previous estimate, the statistical office INSEE reported. This follows a 0.2 percent ri
RTTNews | 10h 52min ago