CAC 40 Slips On Recession Worries

RTTNews | 1044 days ago
CAC 40 Slips On Recession Worries

(RTTNews) - French stocks fell sharply on Friday as concerns over inflation and recession overshadowed a slew of positive earnings updates.

The benchmark CAC 40 fell 94 points, or 1.5 percent, to 5,992 after climbing 0.8 percent the previous day.

Cosmetics group L'Oreal slumped 4.3 percent despite posting robust sales growth over the third quarter.

Automaker Renault fell 2.3 percent after reporting a dip in Q3 auto sales, hit by supply constraints.

Rexel Group shares were down 3 percent. The energy products and services firm said that one of its entities has been placed under a formal probe related to derogation case requiring it to set aside a bank guarantee of 20 million euros and a cash guarantee of 48 million euros to be paid by January 15, 2023.

Luxury eyewear maker EssilorLuxottica tumbled 3 percent despite the company reporting a rise in third-quarter revenues.

Media company Vivendi lost about 4 percent after saying it will go ahead with the spin off its publishing business Editis.

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German Inflation Accelerates To 2.2% In August

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.
RTTNews | 20h 47min ago
Swiss Market Ends Modestly Lower

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.
RTTNews | 23h 36min ago
European Stocks Close Lower On Geopolitical Tensions

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.
RTTNews | 1 day ago
Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | 1 day ago
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | 1 day ago