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CAC 40 Extends Gains As China Cuts Rates To Boost Growth
(RTTNews) - French stocks rose on Tuesday to extend gains from the previous session on hopes that U.S. inflation data later in the day would likely show an easing in prices in May, and that the Federal Reserve would resist raising rates at the end of a two-day policy meeting on Wednesday.
The benchmark CAC 40 was up 36 points, or half a percent, at 7,286 after gaining half a percent the previous day.
China-exposed luxury giant LVMH and Hermes International both rallied around 1.3 percent after the People's Bank of China (PBOC) cut its seven-day reverse repo rate by 10 basis points in a bid to restore market confidence and prop up slowing economic growth.
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Swiss Franc Rises Against Majors
The Swiss franc strengthened against other major currencies in the European session on Tuesday.
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41 minutes ago
European Shares Extend Gains For Fourth Day; US Inflation Report Eyed
European stocks were flat to slightly higher on Tuesday, extending gains for a fourth day running amid signs of progress in U.S.-China trade talks.
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49 minutes ago
Asian Shares Mixed In Cautious Trade; US Inflation Data Eyed
Asian stocks ended mixed on Tuesday as initial euphoria over the U.S.-China trade deal faded and investors lowered their bets of Federal Reserve rate cuts this year.
Uncertainty still lingered and there was apprehension over whether anything durable would come out of the trade talks after a 90-day halt.
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1h 19min ago
Antipodean Currencies Rise On US-China Trade Deal Impact
The antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Tuesday, amid easing fears of a prolonged trade global war after news that the U.S. and China have agreed to drastically reduce the massive tariffs on each other's goods by 115 percent while retaining an additional 10 percent tariff.
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1h 59min ago
NZ Dollar Advances Against Most Majors
The New Zealand dollar strengthened against most major currencies in the Asian session on Tuesday.
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3h 34min ago
Australian Dollar Rises Against Majors
The Australian dollar strengthened against other major currencies in the Asian session on Tuesday.
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3h 42min ago
Australia NAB Business Confidence Rises, Conditions Fall
Australia business confidence improved in April, while conditions deteriorated due to weaker profitability, survey results from NAB showed on Tuesday. The business confidence index rose to -1 in April from -3 in March but remained negative. Confidence by industry was mixed, with a significant increase in confidence in manufacturing and smaller increases in wholesale, construction, and finance.
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4h 19min ago
European Shares Seen Opening Mostly Lower Before US Inflation Data
European stocks are likely to open lower on Tuesday as investors await the U.S. Labour Department's April consumer price inflation data later in the day for more economic cues.
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4h 26min ago
