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CAC 40 Rebounds As Italy Eases Stance On Windfall Tax
(RTTNews) - French stocks traded sharply higher on Wednesday, with banks rebounding from the previous session's losses after the Italian government clarified that the new windfall tax on banks would not amount to more than 0.1 percent of their assets.
Investors also shrugged off weak inflation data from China as concerns about deflation risks and problems at Country Garden, once China's largest developer, increased calls for more stimulus.
The benchmark CAC 40 jumped 112 points, or 1.5 percent, to 7,381 after falling 0.7 percent the previous day.
The euro edged up against the dollar ahead of U.S. inflation readings this week that might influence the Fed's rate trajectory.
Banks BNP Paribas, Credit Agricole and Societe Generale were up 1-2 percent.
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Asian Shares Mostly Lower In Cautious Trade; Nikkei Bucks Trend
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NZ Dollar Rises Against Majors
Sensex, Nifty Edge Lower On Tariff Concerns
Australian Market Trims Early Losses In Mid-market
