CAC 40 Slides As Investors Weigh Political Risks

RTTNews | 2 dias atrás
CAC 40 Slides As Investors Weigh Political Risks

(RTTNews) - French stocks fell sharply on Monday after reports emerged that the country's far-right National Rally (RN) party will likely back a no-confidence motion against the government in the coming days unless the disputed draft budget meets her party's demands.

Investors were also reacting to the results of a survey by S&P Global that showed France's manufacturing sector faced in November its steepest decline in new orders since the first wave of the COVID-19 pandemic in 2020.

The benchmark CAC 40 was down 66 points, or 0.9 percent, at 7,169 after surging 0.8 percent on Friday.

China-related Hermes International and LVMH were up 1.6 percent and half a percent, respectively after a private survey showed the manufacturing sector in China expanded at a faster pace in November, with the corresponding PMI rising to 51.5 from 50.3 in October.

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Canadian Market Remains Weak After Paring Early Gains

Canadian Market Remains Weak After Paring Early Gains

The Canadian market is down in negative territory Wednesday afternoon with investors digesting some quarterly earnings updates, including from Royal Bank of Canada and the National Bank of Canada, and Canadian manufacturing and services sector activity data.
RTTNews | 5 h 7 min atrás
Fed's Beige Book Says U.S. Economic Activity Rose Slightly

Fed's Beige Book Says U.S. Economic Activity Rose Slightly

Economic activity rose slightly in most Federal Reserve districts, according to the central bank's Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts. The Beige Book, released Wednesday afternoon, said three regions exhibited modest or moderate growth that offset flat or slightly declining activity in two others.
RTTNews | 5 h 25 min atrás
Gold Futures Close Higher As Dollar Remains Weak

Gold Futures Close Higher As Dollar Remains Weak

Gold futures closed higher on Wednesday, gaining for a second straight session, as the dollar remained weak. Geopolitical tensions and political uncertainty in France contributed as well for the increased demand for the safe-haven asset.
RTTNews | 5 h 26 min atrás
Swiss Market Close Moderately Lower

Swiss Market Close Moderately Lower

The Switzerland market closed weak on Wednesday after languishing in the red right through the day's trading session, as investors looked for directional clues and made cautious moves.
RTTNews | 6 h 22 min atrás
European Stocks Close Broadly Higher

European Stocks Close Broadly Higher

European stocks closed broadly lower on Wednesday despite political uncertainty in France, and lingering concerns about geopolitical tensions. Investors also awaited some crucial economic data from the U.S. A report from the Organization for Economic Co-operation and Development (OECD) saying that the global economy will likely remain resilient helped underpin sentiment.
RTTNews | 6 h 37 min atrás
U.S. Factory Orders Rise In Line With Estimates In October

U.S. Factory Orders Rise In Line With Estimates In October

The Commerce Department released a report on Wednesday showing a modest increase by new orders for U.S. manufactured goods in the month of October. The report said factory orders rose by 0.2 percent in October after dipping by a revised 0.2 percent in September. Economists had expected factory orders to rise by 0.2 percent.
RTTNews | 9 h 0 min atrás
U.S. Service Sector Growth Slows More Than Expected In November

U.S. Service Sector Growth Slows More Than Expected In November

A report released by the Institute for Supply Management on Wednesday showed U.S. service sector growth slowed by more than anticipated in the month of November. The ISM said its services PMI fell to 52.1 in November from 56.0 in October. While a reading above 50 still indicates growth, economists had expected the index to show a much more modest decrease to 55.5.
RTTNews | 9 h 19 min atrás