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French Stocks Decline As Luxury Stocks Drag
(RTTNews) - French stocks fell sharply on Wednesday after luxury goods bellwether LVMH reported lower sales growth in the third quarter in a sign that the post-pandemic luxury boom is waning.
LVMH shares slumped 7 percent while peers Hermes and Kering fell 2-3 percent.
The benchmark CAC 40 was down 52 points, or 0.7 percent, at 7,109 after climbing around 2 percent the previous day on dovish Fed talk and reports of new Chinese stimulus.
Veolia edged up slightly on news the resource management company has bagged a contract worth over 2 billion euros in Hong Kong.
Accor S.A., a hospitality company, gained about 1 percent after launching a 400 million euros share buyback program.
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Yen Rises Amid BoJ Rate Hike Expectation
The Japanese yen strengthened against other major currencies in the Asian session on Thursday, as the Bank of Japan (BoJ) raised its inflation outlook in July and kept the door open for an imminent interest rate hike by the end of current year.
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16 minutes ago
Australian Dollar Advances Against Some Majors
The Australian dollar strengthened against some major counterparts in the Asian session on Thursday.
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1h 47min ago
European Shares Seen Mixed As Focus Shifts To US-Russia Talks
European stocks are seen opening on a mixed note Thursday as traders eagerly await a high-profile meeting between U.S. President Donald Trump and Russian President Vladimir Putin scheduled for Friday.
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2h 34min ago
European Economic News Preview: UK GDP & Foreign Trade Data Due
Monthly GDP estimates and foreign trade from the UK and flash quarterly national accounts and employment from the euro area are due on Thursday. At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial output and foreign trade data. The economy is forecast to grow 0.2 percent on a monthly basis in June, reversing a 0.1 percent fall in May.
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2h 58min ago
Yen Rises Against Majors
The Japanese yen strengthened against other major currencies in the Asian session on Thursday.
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3h 9min ago
Sensex, Nifty Marginally Higher Ahead Of US-Russia Talks
Indian shares were marginally higher in early trade on Thursday, mirroring mostly positive cues from global markets ahead of the August 15 meeting between the U.S. President Donald Trump and his Russian counterpart Vladimir Putin.
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3h 49min ago
Australian Market Extends Early Gains In Mid-market
The Australian market is extending early gains in mid-market moves on Thursday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,900 level to fresh all-time highs, with gains in mining, energy and financial stocks.
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4h 37min ago
Asian Markets Track Wall Street Higher
Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, on continued optimism over the outlook for interest rates, with the US Fed widely expected to lower rates by a least a quarter point next month. Asian markets closed mostly higher on Wednesday.
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5h 10min ago
