CAC 40 Climbs On Earnings

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(RTTNews) - French stocks climbed on Thursday as upbeat earnings results outweighed signs of weakness in the economy.

France's private sector shrank again in October as both manufacturers and service providers reported lower output, survey data from S&P Global showed.

The flash composite output index unexpectedly fell to a nine-month low of 47.3 in October from 48.6 in the previous month. This was the lowest score since the start of this year.

Separately, France's manufacturing confidence weakened sharply in October, survey data from the statistical office INSEE showed.

The business climate index fell to 92 in October from 99 in September. The score deviated sharply from its long-term average of 100.

Moreover, excluding the COVID-19 pandemic period, this was the biggest monthly fall since November 2008.

The benchmark CAC 40 was up 55 points, or 0.7 percent, at 7,552 after losing half a percent in the previous session.

Birkin bag maker Hermes International rallied 2.4 percent after it reported an 11.3 percent rise in third-quarter sales.

Peer Kering climbed 2.1 percent after reporting higher third-quarter sales.

Orange added 1.9 percent. The telecommunications and digital service provider reported revenue of 9.995 billion euros for the third quarter, up 1.6 percent from the corresponding period a year ago, mainly helped by growth retail services.

Renault soared 7.3 percent as the carmaker reported an unexpected rise in quarterly revenues.

Caterer Sodexo advanced 5.5 percent after reporting higher than expected sales growth for the year through Aug. 3.

Consumer goods group Danone added 2.8 percent after Q3 organic revenue growth exceeded market expectations.

Tyre maker Michelin plunged 6.6 percent after cutting its annual sales volume forecast.

Swiss Market Ends On Weak Note

The Switzerland market closed notably lower on Tuesday, in line with most of the major markets across Europe, as the mood remained cautious ahead of monetary policy announcements from the Federal Reserve and the Bank of England, due on Wednesday and Thursday, respectively.

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European Markets Close On Weak Note Ahead Of Fed, BoE Policy Decisions

European markets closed notably lower on Tuesday as investors, digesting a slew of economic data from the region, remained reluctant to pick up stocks ahead of Federal Reserve's interest rate decision due on Wednesday.

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U.S. Business Inventories Rise 0.2% In July, In Line With Estimates

The Commerce Department released a report on Tuesday showing business inventories in the U.S. increased in line with expectations in the month of July. The report said business inventories rose by 0.2 percent in July, matching the increase seen June as well as economist estimates.

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U.S. Homebuilder Confidence Holds Steady In September

Homebuilder confidence in the U.S. held steady in the month of September, according to a report released by the National Association of Home Builders on Tuesday. The report said the NAHB/Wells Fargo Housing Market Index came in at 32 in September, unchanged from August. Economists had expected the index to inch up to 33.

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U.S. Industrial Production Unexpectedly Inches Slightly Higher In August

Industrial production in the U.S. unexpectedly edged slightly higher in the month of August, according to a report released by the Federal Reserve on Tuesday. The Fed said industrial production crept up by 0.1 percent in August after falling by a downwardly revised 0.4 percent in July. Economists had expected industrial production to slip by 0.1 percent.

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U.S. Import Prices Unexpectedly Increase In August

A report released by the Labor Department on Tuesday showed import prices in the U.S. unexpectedly increased in the month of August. The Labor Department said import prices rose by 0.3 percent in August after inching up by a downwardly revised 0.2 percent in July. Economists had expected import prices to edge down by 0.1 percent.

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Canadian Market Drifts Lower In Cautious Trade

The Canadian market is down in negative territory Tuesday morning, as data showing an increase in the nation's consumer price inflation dimmed the extent of rate cuts this year although the Canadian central bank is widely expected to lower interest rate by 25 basis points on Wednesday.

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U.S. Retail Sales Climb 0.6% In August, Much More Than Expected

The Commerce Department released a report on Tuesday showing retail sales in the U.S. rose by much more than expected in the month of August. The report said retail sales climbed by 0.6 percent in August, matching an upwardly revised increase in July. Economists had expected retail sales to inch up by 0.2 percent compared to the 0.5 percent growth originally reported for the previous month.

RTTNews | 4घंटे 42 मिनट पहले

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