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CAC 40 Marginally Higher Ahead Of US CPI Data
(RTTNews) - French stocks were little changed on Tuesday as investors eagerly awaited U.S. CPI data as well as preliminary third-quarter gross domestic product data from the euro zone for direction.
The benchmark CAC 40 was marginally higher at 7,092 after rising 0.6 percent the previous day.
Banks were subdued with, BNP Paribas falling nearly 1 percent as Eurozone bond yields struggled for direction following hawkish comments from ECB policymakers pushing against expectations for rate cuts.
ECB president Christine Lagarde said in an interview during the weekend that no change in interest rates should be expected in the "next couple of quarters".
Automaker Renault was down half a percent on growth worries.
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European Shares Edge Lower Following US Tech Selloff
European stocks were subdued on Wednesday after closing at five-month high in the previous session on news of a potential Ukraine-Russia summit.
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UK Inflation Hits 18-Month High
UK consumer price inflation accelerated to an 18-month high in July on airfares and food prices, suggesting that the Bank of England is likely to delay further easing. The consumer price index posted an annual growth of 3.8 percent after rising 3.6 percent in June, the Office for National Statistics reported Wednesday.
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Asian Shares Mixed As Tech Stocks Track Declines In US Peers
Asian stocks ended mixed on Wednesday as investors locked in profits in tech stocks amid concerns over valuations and reports of potential U.S. government equity stakes in major chipmakers.
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Australian Dollar Falls Amid RBA Rate Cut Speculation
The Australian dollar weakened against other major currencies in the Asian session on Wednesday, as traders expect two or more rate cuts if inflation continues to decline as anticipated.
Earlier this month, the Reserve Bank of Australia (RBA) lowered its cash rate to 3.60 percent from 3.85 percent, as widely expected.
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1घंटे 16 मिनट पहले
New Zealand Hints At More Interest Rate Cuts
The Reserve Bank of New Zealand reduced its key interest rate by 25 basis points to a three-year low and hinted at further easing on Wednesday. The Monetary Policy Committee, governed by Christian Hawkesby, voted to lower the Official Cash Rate to 3 percent from 3.25 percent. The bank has reduced the rate by 250 basis points since August 2024.
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1घंटे 32 मिनट पहले
NZ Dollar Slides As RBNZ Cuts Rate By 25 Bps
The New Zealand dollar weakened against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand decided to cut its key interest rate by 25 basis points and signaled further easing.
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2घंटे 52 मिनट पहले
European Economic News Preview: UK Inflation Data Due
Consumer prices from the UK and the euro area due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics publishes UK consumer prices for July. Inflation is seen rising to 3.7 percent in July from 3.6 percent in the previous month.
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3घंटे 13 मिनट पहले
China Leaves Benchmark Interest Rate Unchanged
The People's Bank of China maintained its interest rates on Wednesday, as Beijing focus on fiscal policy easing and more targeted measures. The central bank left its one-year loan prime rate at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The bank had reduced its both LPRs by quarter points in October 2024.
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3घंटे 23 मिनट पहले
