CAC 40 Edges Higher Led By Banks

RTTNews | vor 1121 Tagen
CAC 40 Edges Higher Led By Banks

(RTTNews) - French stocks were moving higher on Thursday, with sentiment underpinned by earnings optimism and better-than-expected factory orders data from Germany.

German factory orders fell 0.4 percent sequentially in June while analysts had expected a 0.9 percent drop.

U.S.-China tensions remained on investors' radar after China said that it conducted "precision missile strikes" in the Taiwan Strait as part of military exercises that have raised tensions in the region to their highest level in decades.

Market participants await the outcome of a Bank of England policy meeting later in the day, with analysts expecting the central bank to stick to a 25-bps hike.

The benchmark CAC 40 rose 28 points, or 0.4 percent, to 6,500 after rallying 1 percent the previous day.

Credit Agricole surged 4.3 percent. The lender posted better-than-expected quarterly profits, driven by record activity in its investment banking division.

Rival BNP Paribas advanced 1.2 percent and Socite Generale added 2 percent.

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German Inflation Accelerates To 2.2% In August

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Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.
RTTNews | vor 2Std 11 Minuten
Swiss Market Ends Modestly Lower

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RTTNews | vor 5Std 1 Minuten
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Chicago Business Barometer Slumps Much More Than Expected In August

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Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
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