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CAC 40 Subdued On Rate Hike Jitters
(RTTNews) - French stocks were little changed in cautious trade on Wednesday, a day after Federal Reserve Chair Jerome Powell flagged sharper rate hikes to rein in stubbornly high inflation depending on incoming data.
It is now believed that the Fed would revert to a 50-basis point rate hike at the March 21-22 policy meeting instead of 25 bps expected earlier.
The dollar climbed to three-month highs and the U.S. yield curve inverted further, denting demand for riskier assets.
The benchmark CAC 40 was marginally lower at 7,332 after declining half a percent the previous day.
Aerospace and defense company Thales Group tumbled 3 percent despite posting higher earnings and sales for 2022.
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Swiss Franc Falls Amid Disappointing Swiss CPI Data
The Swiss franc weakened against other major currencies in the European session on Monday, after data showed that Switzerland's consumer price inflation slowed unexpectedly in October after remaining stable in the previous two months.
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1h 52min ago
European Shares Tick Higher In Cautious Trade
European stocks were flat to slightly higher on Monday ahead of regional manufacturing PMI prints due later in the day.
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2h 1min ago
Swiss Franc Falls Against Majors
The Swiss franc weakened against other major currencies in the European session on Monday.
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2h 19min ago
Asian Shares Rise Led By Tech Stocks
Asian stocks ended higher in thin trade on Monday, with Japanese markets closed for a public holiday.
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2h 19min ago
European Economic News Preview: Eurozone Final Factory PMI Due
Factory purchasing managers' survey results from the euro area and the UK are the top economic news due on Monday. At 2.30 am ET, the Federal Statistical Office publishes Swiss consumer prices for October. Inflation is forecast to rise to 0.3 percent from 0.2 percent in September. At 3.15 am ET, Spain's manufacturing PMI survey data is due.
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3h 44min ago
European Shares Set For Mixed Open
European stocks are seen opening broadly higher on Monday, though French markets may drift lower after the National Assembly voted down dual proposals to tax the ultra-wealthy, dealing a blow to left-wing lawmakers who had made fiscal reform their condition for passing the budget.
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5h 12min ago
Sensex, Nifty Struggle For Direction In Early Trade
Indian shares struggled for direction on Monday ahead of a big week for earnings, with around 200 prominent companies scheduled to report their quarterly earnings results.
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6h 13min ago
Australian Market Slashes Early Losses In Mid-market
The Australian stock market is slashing its early losses in mid-market trading on Monday, but extending the losses in the previous four sessions, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is staying below the 8,850 level, with weakness in materials stocks partially offset by gains in energy, financial and technology stocks.
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7h 24min ago
