CAC 40 Rises After Selloff; Banks, Auto Gain

RTTNews | 1061 days ago
CAC 40 Rises After Selloff; Banks, Auto Gain

(RTTNews) - French stocks advanced on Friday after two Fed officials signaled support for a second straight 75-basis-point rate hike at the U.S. central bank's policy meeting later this month, alleviating some fears of a 100-basis point hike.

Italy's political turmoil remained in focus after President Sergio Mattarella rejected Prime Minister Mario Draghi's resignation and asked him to address parliament next week to get a clearer picture of the political situation.

The benchmark CAC 40 rose 56 points, or 1 percent, to 5,971 after declining 1.4 percent on Thursday.

Banks BNP Paribas, Credit Agricole and Societe Generale all traded up over 1 percent. Automaker Renault soared 5.3 percent despite European passenger car registrations declining for the twelfth successive month in June.

Registrations of new passenger cars decreased 15.4 percent year-over-year in June, faster than the 11.2 percent fall in May, as supply chain issues continue to hurt production, the European Automobile Manufacturers' Association said.

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UK Jobless Rate Rises; Wage Growth Softens

UK Jobless Rate Rises; Wage Growth Softens

The UK unemployment rate rose slightly in the three months to April period and wage growth softened as the rise in social security contribution and the minimum wage started to weigh on the labor market activity. The ILO jobless rate rose to 4.6 percent in the three months to April, as expected, from 4.5 percent in the three months to March, data from the Office for National Statistics revealed T
RTTNews | 16 minutes ago
Asian Shares Rise As US-China Talks Gather Momentum

Asian Shares Rise As US-China Talks Gather Momentum

Asian stocks advanced on Tuesday ahead of a second day of talks in London between China and the U.S. to resolve tariff disputes and strengthen economic relations. U.S. officials expressed optimism after the first day of negotiations, boosting investor sentiment.
RTTNews | 1h 10min ago
Pound Slides On Weak U.K. Employment Data

Pound Slides On Weak U.K. Employment Data

The British pound weakened against other major currencies in the early European session on Tuesday, after the U.K. unemployment rate rose slightly in the three months to April period.
RTTNews | 2h 6min ago
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the early European session on Tuesday.
RTTNews | 2h 28min ago
Australia NAB Business Conditions Ease; Confidence Improves

Australia NAB Business Conditions Ease; Confidence Improves

Australian business conditions eased in May amid ongoing profitability pressures and soft demand, while business confidence improved from the last month, survey data from NAB showed on Tuesday. A monthly survey conducted by Westpac showed that consumer confidence rose moderately in June, underpinned by interest rate cut and softening inflation.
RTTNews | 4h 19min ago