CAC 40 Rallies As LVMH Delivers Solid Results
(RTTNews) - French stocks traded sharply higher on Wednesday, after having fallen heavily on Tuesday on concerns about rising tensions between Iran and Israel, and U.S. rate cut uncertainty.
The benchmark CAC 40 was up 96 points, or 1.2 percent, at 8,028 after falling around 1.4 percent in the previous session.
The euro held steady above 1.0600 against the dollar after posting small losses on Tuesday.
Sanofi was little changed despite reporting positive data from Phase 2 study of frexalimab in participants with relapsing multiple sclerosis (MS) at 48-weeks.
LVMH jumped more than 4 percent. The world's largest luxury group slightly missed Q1 revenue estimates but sounded optimistic about the industry's outlook, especially in China.
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CAC 40 Slides On Uncertainty Over Monetary Policy Path
French stocks declined on Tuesday due to uncertainty over the European Central Bank extending rate cuts beyond June.
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hace 4h 11min
DAX Dips On Rate Worries
German stocks traded lower on Tuesday after more Federal Reserve officials expressed caution on inflation, raising uncertainty over the pace of interest-rate cuts this year.
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hace 4h 21min
Asian Shares Decline On Fed Rate Concerns
Asian stocks ended lower on Tuesday as a stimulus-driven China rally paused and minutes of the May 2024 Reserve Bank of Australia meeting showed the central bank considered increasing interest rates during the meeting.
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hace 4h 35min
Antipodean Currencies Slide Amid Risk Aversion
The antipodean currencies such as the Australia and the New Zealand dollars weakened against their major counterparts in the Asian session on Tuesday, as Asian stock markets traded lower amid lingering uncertainty about the outlook for interest rates, with some U.S. Fed officials warning the central bank may still need to raise rates if inflation persists. Traders also seemed reluctant to make more significant bets ahead of the release of the minutes of the latest Fed meeting.
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hace 5h 13min
NZ Dollar Slides Against Most Majors
The New Zealand dollar weakened against most major currencies in the Asian session on Tuesday.
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hace 5h 35min
Australian Dollar Falls Against Majors
The Australian dollar weakened against other major currencies in the Asian session on Tuesday.
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hace 5h 40min
Samsung Names Young Hyun Jun CEO Of Semiconductor Business
South Korean tech giant Samsung Electronics Co Ltd announced Tuesday the appointment of Young Hyun Jun as the new Head of Device Solutions unit. The move is expected to strengthen its semiconductor business and its competitiveness amid surge in chip demand, despite uncertain global business environment.
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hace 6h 30min
European Economic News Preview: Eurozone Foreign Trade Data Due
Foreign trade and current account reports from the euro area are the top economic news due on Tuesday. At 2.00 am ET, Destatis is scheduled to issue Germany's producer prices data for April. Economists forecast producer prices to fall 3.2 percent on a yearly basis, following a 2.9 percent decrease in March.
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hace 7h 17min
