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CAC 40 Edges Lower As Investors React To China's Stimulus Announcement

RTTNews | 308 days ago

CAC 40 Edges Lower As Investors React To China's Stimulus Announcement

(RTTNews) - French stocks were little changed on Friday as China's top legislative body - the National People's Congress (NPC) - approved the State Council's proposal to increase local government debt limit by $839 billion after a week-long session.

There was some disappointment as the hotly anticipated stimulus was not as broad or immediate as initially presumed.

The benchmark CAC 40 was down 11 points, or 0.2 percent, at 7,414 after climbing 0.8 percent the previous day.

Eurozone bond yields dipped after a busy week of central bank meetings and amid the collapse of the German government.

Luxury stocks LVMH, Kering and Hermes fell 2-3 percent after Cartier owner Richemont posted a 20 percent drop in net profit for the first half of the year.

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Russia Central Bank Cuts Rate By 100 Bps

Russia Central Bank Cuts Rate By 100 Bps

Russia's central bank slashed its benchmark interest rate for the third time this year as higher lending rates weigh on business activity and damp economic recovery. The Board of Directors of Bank of Russia, governed by Elvira Nabiullina, decided to cut the key interest rate by 100 basis points to 17.00 percent from 18.00 percent.

RTTNews | 25 minutes ago

Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the European session on Friday.

RTTNews | 44 minutes ago

FTSE 100 Modestly Higher As Miners Rise

FTSE 100 Modestly Higher As Miners Rise

The UK market is up in positive territory a little past noon on Friday, supported by solid gains in the mining sector thanks to higher metal prices. Investors are also digesting the data showing the UK economy stagnated in July as expansions in services and construction sectors were offset by the decline in industrial production.

RTTNews | 1h 25min ago

CAC 40 Down Nearly 0.5%

CAC 40 Down Nearly 0.5%

French stocks are exhibiting weakness on Friday with investors largely cautious ahead of Fitch Ratings' review of France's sovereign credit rating. Expectations of a rate cut by the Federal Reserve next week appear to be limiting market's downside.

RTTNews | 1h 43min ago

DAX Modestly Lower In Cautious Trade; Auto Stocks Among Major Losers

DAX Modestly Lower In Cautious Trade; Auto Stocks Among Major Losers

German stocks are down in negative territory on Friday in cautious trade amid concerns about a possible downgrade of France's sovereign rating. Optimism about an interest rate cut by the Federal Reserve next week helps limit market's downside.

RTTNews | 2h 0min ago

Sensex, Nifty End Higher On Trade Deal Hopes

Sensex, Nifty End Higher On Trade Deal Hopes

Indian shares rose on Friday as rising jobless claims coupled with in-line U.S. consumer price inflation data spurred expectations for more Federal Reserve rate cuts.

RTTNews | 2h 15min ago

European Shares Mostly Lower In Lackluster Trade

European Shares Mostly Lower In Lackluster Trade

European stocks were mostly lower on Friday, with U.K. stocks bucking the weak trend as the pound faced pressure on weak GDP data.

RTTNews | 3h 38min ago

Asian Shares Follow Wall Street Higher Amid Fed Cut Bets

Asian Shares Follow Wall Street Higher Amid Fed Cut Bets

Asian stocks followed Wall Street higher on Friday as rising jobless claims coupled with in-line U.S. consumer price inflation data spurred expectations for more Federal Reserve rate cuts.

RTTNews | 3h 59min ago

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