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CAC 40 Edges Higher As Investors Shrug Off Inflation Concerns
(RTTNews) - French stocks were moving higher on Tuesday despite concerns that a jump in oil prices might stoke inflation and prompt the Federal Reserve to act more aggressively. Investors cheered the results of an ECB survey showing that consumer expectations for euro-area inflation fell for a second month.
The benchmark CAC 40 was up 22 points, or 0.3 percent, at 7,369 after rising 0.3 percent the previous day.
Banks BNP Paribas, Credit Agricole and Societe Generale were up between 0.8 percent and 1.5 percent.
L'Oreal shares rose half a percent after the cosmetics group reached a deal with Brazil's Natura & Co to acquire its Australian luxury brand Aesop at an enterprise value of $2.53 billion.
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U.S. Dollar Falls Against Most Majors
The U.S. dollar weakened against its most major counterparts in the New York session on Friday.
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22h 0min ago
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.
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23h 19min ago
Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings
Despite weak GDP data, the Canadian market is up firmly in positive territory Friday afternoon with stocks from materials and healthcare sectors contributing significantly to the gains.
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1 day ago
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.
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1 day ago
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.
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1 day ago
U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August
The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.
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1 day ago
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.
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1 day ago
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.
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1 day ago
