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CAC 40 Slides As Hopes Of Rate Cuts Fade
(RTTNews) - French stocks declined on Friday as a jump in bond yields following hawkish comments from Fed and ECB officials weighed on investors' appetite for risk.
A weak U.S. Treasury auction also sent yields higher and dented hopes for rate cuts anytime soon.
On Thursday, Fed Chair Jerome Powell reiterated that the U.S. central bank will move 'carefully' and that the Fed won't hesitate to raise interest rates again, if needed.
European Central Bank and Bank of England policymakers also pushed back against expectations around rate cuts.
The benchmark CAC 40 was down 39 points, or 0.6 percent, at 7,074 after rallying 1.1 percent the previous day.
SCOR SE, a tier 1 reinsurance company, plunged 8 percent after quarterly gross written premium declined to 4.87 billion euros from 5.14 billion euros last year.
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Japan Stock Market May Add To Its Winnings On Tuesday
The Japanese stock market has finished higher in two consecutive trading days, soaring more than 1,400 points or 2.7 percent along the way. The Nikkei 225 now sits just above the 50,400-point plateau and it may extend its gains on Tuesday.
The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
The Nikkei finished sharply higher on Monday following gains from the financial shares, technology stocks and automobile producers.
For the day, the index jumped 895.18 points or 1.81 percent to finish at 50,402.39 after trading between 49,982.20 and 50,590.88.
Among the actives, Nissan Motor improved 0.75 percent, while Mazda Motor accelerated 4.34 percent, Toyota Motor advanced 0.91 percent, Honda Motor strengthened 1.61 percent, Softbank Group soared 4.09 percent, Mitsubishi UFJ Financial jumped 1.86 percent, Mizuho Financial vaulted 1.40 percent, Mitsubishi Electric rallied 1.74 percent, Panasonic Holdings spiked 3.47 percent and Hitachi expanded 1.89 percent.
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1h 8min ago
Additional Support Called For South Korea Shares
The South Korea stock market has moved higher in two straight sessions, advancing more than 110 points or 2.7 percent along the way. The KOSPI now sits just above the 4,100-point plateau and it may add to its winnings on Tuesday.
The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
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1h 23min ago
RBA Minutes Due On Tuesday
The Reserve Bank of Australia will on Tuesday release the minutes from its Dec. 8 monetary policy meeting, highlighting a light day for Asia-Pacific economic activity.
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1h 53min ago
Swiss Markets Ends Marginally Down
The Swiss market ended slightly down on Monday after languishing in negative territory righ through the day's trading session, as traders largely stayed on the sidelines ahead of Christmas holidays.
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5h 27min ago
European Markets Close Mostly Lower After Cautious Session
European stocks closed on a weak note on Monday with investors largely refraining from making big moves and most of the markets recording thin volumes, ahead of upcoming Christmas holidays.
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5h 49min ago
TSX Hits New Record High, Stays Firm As Resources Stocks Shine
Canadian stocks are gaining ground in positive territory on Monday, rising for a third straight session, led by gains in materials and energy sectors thanks to firm commodity prices.
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6h 30min ago
Dollar Rises Amidst Mixed Jobs Data, Soft Inflation
The U.S. dollar remained broadly resilient during the week ended December 19 amidst a mixed update from the labor market and soft inflation readings from the U.S.
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10h 28min ago
Bay Street Likely To Extend Gains On Commodities Strength
Higher Canadian and U.S. index futures and firm commodity prices point to a positive start on Bay Street Monday morning.
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10h 40min ago
