CAC 40 Struggles For Direction Before China Stimulus Briefing
(RTTNews) - French stocks struggled for direction in early trade on Friday as investors waited to see whether Beijing will deliver more fiscal stimulus at a press conference by the finance ministry on Saturday.
The benchmark CAC 40 was marginally higher at 7,545 after closing 0.2 percent lower the previous day.
China-linked luxury stocks such as Kering, Hermes International and LVMH were moving lower ahead of China's policy briefing.
The dollar drifted lower as fresh signs of U.S. labour market weakness spurred hopes for more rate cuts.
The British pound was muted after new data showed the U.K. economy expanded by 0.2 percent in August, following two months of stagnation in June and July.
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CAC 40 Rises Nearly 2% As Luxury Stocks Rally
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European Shares Edge Higher As Inflation Worries Ease
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Asian Shares Follow Wall Street Higher On Fed Rate-cut Hopes
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Pound Slides Against Majors
The British pound weakened against other major currencies in the European session on Thursday.
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Quaker Oats Recalls Pearl Milling Original Pancake & Waffle Mix
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European Economic News Preview: UK GDP Data Due
GDP monthly estimates and foreign trade from the UK and final inflation from Germany are due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade figures. Economists forecast the economy to grow 0.2 percent on month in November, in contrast to the 0.1 percent fall in October.
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