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CAC 40 Slips Into Red With Rate Decisions In Focus
(RTTNews) - French stocks were a tad lower on Thursday after the U.S. Federal Reserve raised rates by 25 bps, as widely expected, and signaled it may pause further rate increases depending on incoming data.
Meanwhile, the European Central Bank is expected to raise interest rates for the seventh meeting in a row later today, citing upside risks to the inflation outlook.
In economic releases, the French services PMI increased from 53.9 to 54.6 but was down from a prelim 56.3.
The benchmark CAC 40 was down 27 points, or 0.4 percent, at 7,377 after closing 0.3 percent higher the previous day.
Capgemini shares fluctuated after the IT consulting group posted weaker revenue growth in the first quarter amid a tense economic environment.
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Canadian Dollar Higher After Soft U.S. Inflation Data
The Canadian dollar strengthened against its major counterparts in the New York session on Wednesday, as U.S. inflation report came in cooler than expected in February, suggesting that the Federal Reserve will resume rate cuts in June.
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6h 9min ago
Swiss Market Ends On Buoyant Note
The Switzerland market closed on a buoyant note on Wednesday, in line with markets across Europe, as optimism about a ceasefire in Ukraine, and data showing a less than expected increase in U.S. consumer prices in the month of February lifted investor sentiment.
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6h 22min ago
European Stocks Close Higher On Ukraine Ceasefire Hopes, Tame U.S. CPI Data
European stocks closed higher on Wednesday, recovering from recent losses, as investors reacted to news about prospects of a ceasefire in Ukraine. Tamer than expected U.S. consumer price inflation data also aided sentiment.
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6h 41min ago
Canadian Stocks Turning In Mixed Performance After BoC Rate Cut, U.S. Inflation Data
Canadian stocks are turning in a mixed performance Wednesday morning with investors digesting the Bank of Canada's interest rate decision, and tamer than expected U.S. consumer price inflation data.
Worries about the U.S. Government's stance on tariffs, and the possibility of recession in the U.S., Canada and Mexico, are weighing on sentiment and limiting market's upside.
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8h 52min ago
Elon Musk's Starlink Partners With India's Jio And Airtel
Close on the heels of signing an agreement with one of India's telecom majors Airtel, Elon Musk's SpaceX signed a deal with the country's another tycoon Jio Platforms Ltd, affiliated to Billionaire Mukesh Ambani's Reliance Industries, to offer Starlink satellite Internet services in the country.
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9h 51min ago
Bank Of Canada Cuts Interest Rates By Another 25 Basis Points
With inflation close to the 2 percent target, the Bank of Canada on Wednesday announced its widely expected decision to lower interest rates by another 25 basis points, making its seventh straight rate cut. The Bank of Canada said it decided to reduce its target for the overnight rate to 2.75 percent, with the Bank Rate at 3 percent and the deposit rate at 2.70 percent.
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10h 15min ago
U.S. Consumer Prices Rise Less Than Expected In February, Annual Growth Slows
A report released by the Labor Department on Wednesday showed consumer prices in the U.S. increased by slightly less than expected in the month of February. The Labor Department said its consumer price index crept up by 0.2 percent in February after climbing by 0.5 percent in January. Economists had expected consumer prices to rise by 0.3 percent.
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10h 36min ago
Bay Street Likely To Open On Positive Note
The Bank of Canada's interest rate decision, and U.S. consumer price inflation data are in focus on Bay Street Wednesday morning. The market looks set to open higher thanks to firm commodity prices and European stocks.
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11h 27min ago
