CAC 40 Inches Higher With ECB Meet In Focus
(RTTNews) - French stocks advanced on Thursday ahead of a European Central Bank (ECB) policy meeting later in the day.
In a prelude to an expected Fed move next week, the ECB is expected to cut its baseline interest rate from 4.25 percent to 4 percent due to falling inflation and sluggish growth.
Markets will focus more on comments by ECB President Christine Lagarde to confirm if further rates are to follow in October and December.
The benchmark CAC 40 was up 42 points, or 0.6 percent, at 7,439 after closing 0.1 percent lower the previous day.
The dollar firmed up after August U.S. CPI came in as expected, but core CPI inflation unexpectedly rose to 0.3 percent month-on-month, denting hopes for a 50-bps rate cut at next week's FOMC meeting.
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Bay Street Likely To Open Higher On Firm Commodity Prices
The Canadian market may open higher Monday morning as some strong buying is likely in energy and materials sectors thanks to rising oil and metal prices.
However, the mood is likely to remain cautious amid persisting worries about tensions in the Middle East.
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ECB's Simkus Says Rates To Go Lower If Inflation Slows Further
The European Central Bank could cut interest rates further if inflation continues to slow and the economy remains sluggish, Governing Council member Gediminas Simkus said on Monday, but he refrained from predicting the December move.
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Dollar Firms Up With Rising Trump Bets
The U.S. Dollar extended gains against major currencies during the week ended October 18 amidst growing expectations of a Trump presidency, widely perceived as boosting the U.S. dollar.
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Sensex, Nifty End Slightly Lower In Volatile Trade
Indian shares ended slightly lower on Monday as investors reacted to mixed earnings results and weighed the possible impact of the U.S. presidential elections on the Indian stock market.
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UK House Price Growth Weakens: Rightmove
UK house prices increased at a below seasonal average pace in October due to the rise in buyer choice and increasing seller competition, property website Rightmove said Monday. House prices grew 0.3 percent month-on-month in October, which was much lower than the average seasonal 1.3 percent increase at this time of year. Prices had increased 0.8 percent in September.
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European Shares Lack Direction In Cautious Trade
European stocks were little changed on Monday, even as higher commodity prices boosted mining and energy stocks.
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FTSE 100 Holds Steady; Mining And Energy Stocks Gain
U.K. stocks were marginally higher on Monday as higher commodity prices boosted mining and energy stocks.
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CAC 40 Drifts Lower Amid Lack Of Major Catalysts
French stocks traded lower on Monday and the euro was under pressure in the absence of high-tier data releases.
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