CAC 40 Subdued Ahead Of US Midterm Elections

RTTNews | 1047 days ago
CAC 40 Subdued Ahead Of US Midterm Elections

(RTTNews) - French stocks were subdued on Monday, as investors awaited the outcome of the mid-term elections in the United States and the latest U.S. consumer inflation report this week for directional cues.

Polls show Republicans poised for potentially big victories in Tuesday's congressional election.

The benchmark CAC 40 was marginally lower at 6,414 after rallying 2.8 percent on Friday.

Luxury stocks were moving lower, with Pernod Ricard and LVMH falling between half a percent and 1 percent, after officials from China's health commission reiterated their commitment to maintain the zero-COVID policy, which entails strict lockdown measures to prevent transmission.

The dollar gained in early European trade and gold slipped from a three-week high scaled in the previous session, while oil prices fell after settling up by more than 5 percent on Friday.

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Pound Slides As UK Bond Yield Soars

Pound Slides As UK Bond Yield Soars

The British pound weakened against other major currencies in the European session on Friday, as long-dated UK bond yields rise sharply in response to increasing public sector borrowings in August.
RTTNews | 1h 51min ago
Sensex, Nifty End Lower On Profit Taking

Sensex, Nifty End Lower On Profit Taking

Indian shares ended lower on Friday, with key benchmark indexes Sensex and Nifty snapping a three-day winning streak that was supported by GST reforms, encouraging progress in India-U.S. trade discussions and the Federal Reserve's first rate cut of the year.
RTTNews | 2h 11min ago
DAX Pares Early Gains, Down Marginally

DAX Pares Early Gains, Down Marginally

German stocks pared early gains and are down in negative territory a little past noon on Friday with investors looking to take some profits after previous session's sharp upmove.
RTTNews | 2h 17min ago
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 2h 23min ago
Antipodean Currencies Fall Amid Fed Cautious Outlook

Antipodean Currencies Fall Amid Fed Cautious Outlook

The antipodean currencies Australia and the New dollar weakened against their major currencies in the Asian session on Friday, as traders continued to digest the U.S. Fed's interest rate cut by a quarter point and its impact on the markets. Fed officials' forecasts suggest two more rate cuts this year but just one next year, although there were significant differences of opinion about the outlook.
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UK Budget Shortfall Overshoots Estimate

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UK government borrowing increased more than expected and also exceeded the official estimate in August, adding pressure on Chancellor Rachel Reeves ahead of the November budget. Public sector net borrowing increased GBP 3.5 billion from the last year to GBP 18.0 billion in August, the Office for National Statistics said Friday.
RTTNews | 3h 31min ago