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CAC 40 Declines On Uncertainty Over Rate Cuts
(RTTNews) - French stocks declined on Tuesday as traders pared back expectations on near-term rate cuts by the U.S. Federal Reserve and the European Central Bank.
French central bank Governor Francois Villeroy de Galhau said in Davos that it's too early to declare victory over inflation, but the ECB's next move is likely to be an interest rate cut sometime this year.
The benchmark CAC 40 was down 32 points, or 0.4 percent, at 7,379 after closing 0.7 percent lower on Monday.
In corporate news, Air France-KLM Group shares fell over 2 percent. The airline announced today its decision to withdraw from its existing air cargo agreements with CMA CGM, a French shipping and logistics company, from March 31, 2024.
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Yen Falls Amid Japan Political Jitters
The Japanese yen weakened against other major currencies in the Asian session on Monday, amid renewed concerns about Japan's fiscal crisis.
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13 minutes ago
China GDP Growth Softens Less Than Expected
China's economic growth eased less than feared in the third quarter, indicating that the country remains on track to achieve its full year target despite tariff tensions and deepening property market downturn. Gross domestic product expanded 4.8 percent on a yearly basis in the third quarter after rising 5.2 percent a quarter ago, the National Bureau of Statistics reported Monday.
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30 minutes ago
Commodity Currencies Rise After China Rate Decision
The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against other major currencies in the Asian session on Monday, following the People's Bank of China's (PBOC) decision to maintain its interest rate stability.
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40 minutes ago
Yen Slides Against Majors
The Japanese yen weakened against other major currencies in the Asian session on Monday.
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1h 34min ago
Canadian Dollar Climbs Against Most Majors
The Canadian dollar strengthened against most major currencies in the Asian session on Monday.
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1h 40min ago
NZ Dollar Advances Against Majors
The New Zealand dollar strengthened against other major currencies in the Asian session on Monday.
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1h 46min ago
Australian Dollar Rises Against Majors
The Australian dollar strengthened against other major currencies in the Asian session on Monday.
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1h 55min ago
European Markets Seen Opening Positive On Monday
Stock markets in Europe are expected to open on a positive note on Monday amidst an easing in tensions between the U.S. and China.
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2h 29min ago
