CAC 40 Slips On Recession Worries

RTTNews | vor 1043 Tagen
CAC 40 Slips On Recession Worries

(RTTNews) - French stocks fell sharply on Friday as concerns over inflation and recession overshadowed a slew of positive earnings updates.

The benchmark CAC 40 fell 94 points, or 1.5 percent, to 5,992 after climbing 0.8 percent the previous day.

Cosmetics group L'Oreal slumped 4.3 percent despite posting robust sales growth over the third quarter.

Automaker Renault fell 2.3 percent after reporting a dip in Q3 auto sales, hit by supply constraints.

Rexel Group shares were down 3 percent. The energy products and services firm said that one of its entities has been placed under a formal probe related to derogation case requiring it to set aside a bank guarantee of 20 million euros and a cash guarantee of 48 million euros to be paid by January 15, 2023.

Luxury eyewear maker EssilorLuxottica tumbled 3 percent despite the company reporting a rise in third-quarter revenues.

Media company Vivendi lost about 4 percent after saying it will go ahead with the spin off its publishing business Editis.

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Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | vor 1Std 52 Minuten
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

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.
RTTNews | vor 2Std 35 Minuten
German Unemployment Exceeds 3 Mln

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1
RTTNews | vor 3Std 5 Minuten
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
RTTNews | vor 4Std 18 Minuten