CAC 40 Rallies As Industrial Output Rebounds
(RTTNews) - French stocks were trading higher on Friday after official data showed France's industrial production rebounded in April, led by a sharp recovery in petroleum output.
Industrial output logged a monthly growth of 0.8 percent, reversing the 1.1 percent decrease in March. Production was expected to climb 0.3 percent.
The passing of the U.S. debt ceiling bill and optimism that the U.S. Federal Reserve will pause interest-rate hikes in June also buoyed investor sentiment.
The benchmark CAC 40 was up 64 points, or 0.9 percent, at 7,199 after gaining 0.6 percent the previous day.
The dollar extended slide while Treasury yields held steady ahead of the all-important U.S. jobs data due later in the day.
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Crecelac And Farmalac Infant Formula Recalled
Prosper, Texas-based Dairy Manufacturers Inc. has recalled all lot codes for infant formulas available under Crecelac and Farmalac brands as they were sold in the U.S. without complying with the infant formula regulations of the U.S. Food and Drug Administration.
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4h 28min ago
Antipodean Currencies Rise Amid Risk Appetite
Antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Tuesday amid risk appetite, following the broadly positive cues from the European markets overnight, as traders remain cautious ahead of key inflation readings from the U.S., Europe, Japan and Australia later in the week, which could help traders access the timing and pace of interest rate cuts this year.
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4h 28min ago
U.S. Dollar Falls Against Majors
The U.S. dollar weakened against other major currencies in the Asian session Tuesday.
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4h 50min ago
Australia Retail Sales Rise Less Than Expected
Australia's retail sales grew less than expected in April as consumers reduced their discretionary spending, flash data from the Australian Bureau of Statistics showed on Tuesday. Retail turnover edged up 0.1 percent on a monthly basis, reversing a 0.4 percent fall in March. But the pace of growth was weaker than economists' forecast of 0.3 percent increase.
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4h 55min ago
NZ Dollar Advances Against Majors
The New Zealand dollar strengthened against other major currencies in the Asian session on Tuesday.
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5h 19min ago
European Economic News Preview: Germany Wholesale Price Data Due
Wholesale price data from Germany is the only major report due on Tuesday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is scheduled to issue Germany's wholesale prices for April. Economists forecast wholesale prices to rise 0.1 percent on month, in contrast to the 0.2 percent rise in March.
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5h 30min ago
Australian Dollar Rises Against Majors
The Australian dollar strengthened against other major currencies in the Asian session on Tuesday.
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5h 31min ago
European Shares Seen Higher At Open
European stocks are seen opening on a firm note Tuesday as investors await a swath of global inflation prints for direction.
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5h 54min ago
