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CAC 40 Subdued On Rate Hike Jitters
(RTTNews) - French stocks were little changed in cautious trade on Wednesday, a day after Federal Reserve Chair Jerome Powell flagged sharper rate hikes to rein in stubbornly high inflation depending on incoming data.
It is now believed that the Fed would revert to a 50-basis point rate hike at the March 21-22 policy meeting instead of 25 bps expected earlier.
The dollar climbed to three-month highs and the U.S. yield curve inverted further, denting demand for riskier assets.
The benchmark CAC 40 was marginally lower at 7,332 after declining half a percent the previous day.
Aerospace and defense company Thales Group tumbled 3 percent despite posting higher earnings and sales for 2022.
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U.S. Manufacturing Index Unexpectedly Edges Lower In October
Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of October, according to a report released by the Institute for Supply Management on Monday. The ISM said its manufacturing PMI slipped to 48.7 in October after edging up to 49.1 in September, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 49.5.
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Před 2 h 46 min
Bay Street Likely To Open On Positive Note
Canadian shares are likely to open higher Monday morning, with firm metal prices expected to trigger buying in the materials sector. The focus will be on the developments on the trade front and corporate earnings announcements.
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Před 4 h 47 min
FedEx Study Reveals $126 Bln Contribution In Direct & Indirect Impact To Global Economy In FY25
FedEx Corp. has contributed $126 billion in direct and indirect impact to the global economy in fiscal 2025, according to the logistics major's annual Global Economic Impact Report. The company delivered $1.6 billion in direct and indirect impact in the Middle East, Indian Subcontinent, and Africa or MEISA region.
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Před 5 h 9 min
UK Manufacturing PMI At 1-Year High
The UK manufacturing activity shrank in October but the pace of contraction was the slowest in a year, the final purchasing managers' survey from S&P Global revealed on Monday. The factory Purchasing Managers' Index rose to a 12-month high of 49.7 in October from 46.2 in September. The flash reading was 49.6.
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Před 5 h 21 min
Eurozone Manufacturing Sector Stagnates In October
Eurozone manufacturing sector stagnated in October, as initially estimated, following a fractional deterioration in September, the purchasing managers' survey compiled by S&P Global showed on Monday. The final Purchasing Managers' Index posted 50.0 in October, signalling no change in the operating conditions in the manufacturing sector. The score matched the initial estimate and remained above S
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Před 5 h 53 min
FTSE 100 Up Marginally In Cautious Trade
U.K.'s stock market's FTSE 100 is gaining some ground in positive territory on Monday, with stocks from the banking sector attracting attention ahead of the Bank of England's monetary policy announcement this week.
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Před 6 h 11 min
Fed's Hawkish Guidance Lifts Dollar
A drastic reduction in Fed rate cut hopes in the aftermath of the hawkish forward guidance by Chair Jerome Powell boosted the U.S. Dollar during the week ended October 31.
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Před 6 h 22 min
CAC Modestly Higher; Renault Up After Announcing Stake Sale In Brazil Venture
French stocks are modestly higher on Monday with investors continuing to digest the latest quarterly earnings, and reacting to the data showing an improvement in the nation's manufacturing activity in the month of October.
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Před 6 h 32 min
