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CAC 40 Tumbles On US Rate Hike Fears
(RTTNews) - French stocks fell sharply on Monday as investors braced for a slew of central bank decisions this week.
The Federal Reserve meets on Wednesday while the Bank of England (BoE) and the Swiss National Bank (SNB) will announce their monetary policy decisions on Thursday.
The Bank of Japan is also meeting on Thursday with no change in interest rates expected.
As inflation worries mount, it remains to be seen whether the Fed will be forced to raise rates by 100 bps at the end of a two-day policy meeting on Wednesday.
The clamor for a 100-basis point rate hike is getting louder every day.
The benchmark CAC 40 was down 64 points, or 1.1 percent, at 6,013 after declining 1.3 percent on Friday.
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U.S. Dollar Falls Against Majors
The U.S. dollar weakened against its major counterparts in the New York session on Monday, as investors focused on upcoming earnings announcements and some crucial U.S. economic data.
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Swiss Market Ends On Firm Note
After a flat start and a subsequent sluggish spell the Switzerland market moved higher on Monday with stocks gradually gaining in strength as the day progressed.
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European Stocks Close Broadly Higher Ahead Of Earnings Announcements
European stocks closed higher on Monday, and the U.K. market recorded its longest winning streak in over five years, moving up for the eleventh consecutive session, as investors focused on upcoming earnings announcements and some crucial European and U.S. economic data.
Hopes of a de-escalation in U.S.-China trade friction too contribute to the positive mood in the market.
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Domino's Pizza Q1 Earnings Beat, Revenues Miss, U.S. Same Store Sales Down; Stock Drops
Domino's Pizza Inc. announced Monday higher earnings in its first quarter, above market estimates, amid revenue growth. Meanwhile, the largest pizza company in the world recorded weak income from operations and U.S. same store sales, and its top line missed the Street view. In pre-market activity on the Nasdaq, Domino's Pizza shares were losing around 2.6 percent.
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Bay Street Likely To Open On Mixed Note
The Canadian market is likely to open on a mixed note on Monday with investors mostly making cautious moves, as the nation goes to the polls today.
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Pound Rises As European Shares Traded Higher
The British pound strengthened against other major currencies in the European session on Monday amid increased risk appetite, as tariff tensions eased and investors looked ahead to a busy week of earnings, with four of the Magnificent Seven companies— Amazon, Apple, Meta Platforms and Microsoft — due to report their quarterly results.
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Pound Rises Against Majors
The British pound strengthened against other major currencies in the European session on Monday.
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FTSE Up Marginally In Cautious Trade
The U.K. market is marginally up at noon on Monday with investors making some selective purchases ahead of a slew of corporate earnings announcements and some crucial economic data this week.
Optimism about U.S. and China striking a trade deal sometime soon is also contributing to the positive mood in the market.
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