CAC 40 Struggles For Direction In Early Trade

RTTNews | 615 일 전
CAC 40 Struggles For Direction In Early Trade

(RTTNews) - French stocks were little changed in lacklustre trade on Friday in the absence of Wall Street cues.

The euro strengthened and regional bond yields edged higher after Bundesbank President Joachim Nagel said the European Central Bank must resist any temptation to cut interest rates early.

Nagel also said he was "skeptical" about the risk of a 'hard landing' for the euro zone economy caused by the monetary policy squeeze.

The benchmark CAC 40 was marginally lower at 7,276 after closing up 0.2 percent the previous day.

Forvia rose 1.4 percent after Barclays upgraded shares of the automotive parts maker to "overweight".

China-related LVMH, Hermes and Kering were moving lower after Chinese wealth manager Zhongzhi Enterprise Group told investors it is heavily insolvent with up to $64 billion in liabilities.

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U.S. Consumer Price Growth Matches Estimates In June

U.S. Consumer Price Growth Matches Estimates In June

A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in June after inching up by an upwardly revised 0.2 percent in May.
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German Unemployment Rises In July

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Eurozone Jobless Rate Unchanged At 6.2%

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The euro area unemployment rate remained stable in June despite slowing economic growth and challenging global trade situation, official data revealed on Thursday. The jobless rate came in at seasonally adjusted 6.2 percent, the same rate as seen in May and down from 6.4 percent in the same period last year, Eurostat said Thursday.
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