CAC 40 Slides As Hopes Of Rate Cuts Fade

RTTNews | vor 696 Tagen
CAC 40 Slides As Hopes Of Rate Cuts Fade

(RTTNews) - French stocks declined on Friday as a jump in bond yields following hawkish comments from Fed and ECB officials weighed on investors' appetite for risk.

A weak U.S. Treasury auction also sent yields higher and dented hopes for rate cuts anytime soon.

On Thursday, Fed Chair Jerome Powell reiterated that the U.S. central bank will move 'carefully' and that the Fed won't hesitate to raise interest rates again, if needed.

European Central Bank and Bank of England policymakers also pushed back against expectations around rate cuts.

The benchmark CAC 40 was down 39 points, or 0.6 percent, at 7,074 after rallying 1.1 percent the previous day.

SCOR SE, a tier 1 reinsurance company, plunged 8 percent after quarterly gross written premium declined to 4.87 billion euros from 5.14 billion euros last year.

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Soft Start Seen For Thai Stock Market

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Japanese Market Notably Higher

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Australian Market Modestly Lower

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Taiwan Shares May Run Out Of Steam On Tuesday

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Ahead of Monday's holiday for the Mid-Autumn Festival, the Taiwan stock market had moved higher in four consecutive sessions, rallying more than 1,180 points or 4.7 percent along the way. The Taiwan Stock Exchange now sits just above the 26,760-point plateau although the rally may stall on Tuesday.
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Singapore Shares Due For Consolidation On Tuesday

Singapore Shares Due For Consolidation On Tuesday

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Japan Household Spending Climbs 0.6% On Month In August

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Little Movement Seen For Malaysia Stock Market

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