CAC 40 Climbs As Biden Says US Can Avert Recession
(RTTNews) - French stocks advanced on Friday amid optimism that China's economy is poised for a steady recovery from the COVID-19 impact.
Investors were also reacting to comments by U.S. President Joe Biden that a U.S. recession isn't inevitable and that the country was "in a stronger position than any nation in the world to overcome inflation."
The benchmark CAC 40 rose 49 points, or 0.8 percent, to 5,935 after declining 2.4 percent in the previous session.
EssilorLuxottica SA shares rose over 2 percent. The provider of ophthalmic lenses and frame said it will buy back up to 2.5 million shares in the period starting from June 17 to August 31, for a price not exceeding 200 euros per share.
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FSIS Announces Recalls Of Pork, Beef Products
The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has announced various recalls of ready-to-eat or RTE pork and beef bologna products, as well as raw pork sausage products. Perkins, Oklahoma-based Ralph's Packing Co. is recalling around 3,132 pounds of RTE pork and beef bologna products citing misbranding and undeclared milk, a known allergen.
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Bay Street May Open With Slightly Negative Bias; GDP, PPI Data In Focus
Weak crude oil and gold prices point to a negative open for Canadian stocks on Monday. However, the market may climb higher if GDP and producer prices data, due this morning, turn out to be positive.
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Swiss Franc Slides As European Shares Traded Higher
The Swiss franc weakened against other major currencies in the European session on Monday, as the European stocks traded higher heading into a holiday-shortened week.
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Sensex, Nifty Rebound From Five-day Slump
Indian shares ended notably higher on Monday after five straight sessions of losses.
Benchmark indexes both staged a share recovery, after having fallen nearly 5 percent over the last week.
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Starbucks Union Expands Strike To More States
The ongoing strike at coffee retail giant Starbucks Corp. by its baristas has been expanded to nine states as of Sunday, according to the Starbucks Workers United union. The five-day strike began on Friday at Starbucks locations in Chicago, Los Angeles and Seattle- its hometown- seeking wage increases for baristas. The workers in Colorado, Ohio and Pennsylvania locations joined on Saturday...
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European Shares Struggle For Direction Ahead Of Holiday Break
European stocks were subdued on Monday in the run-up to Christmas.
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FTSE 100 Subdued As GDP Figures Revised Down
U.K. stocks were flat to slightly lower on Monday after official data showed the U.K. economy stalled in the third quarter.
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Swiss Franc Slides Against Majors
The Swiss franc weakened against other major currencies in the European session on Monday.
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