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CAC 40 Nudges Higher In Cautious Trade
(RTTNews) - French stocks traded higher on Wednesday after falling notably the previous day on fading Fed rate-cut hopes.
Sentiment was helped as U.S. stock futures nudged higher after a slump previous day on interest rate concerns.
Also, there was some cheer as the latest U.K. inflation data came in slightly below expectations.
The benchmark CAC 40 was up 12 points, or 0.2 percent, at 7,637 after falling around 0.8 percent the previous day.
Capgemini shares jumped 4.6 percent. The IT consulting group reported solid results in 2023 despite the weak economic environment.
Banks BNP Paribas, Credit Agricole and Societe Generale were down between 0.3 percent and 0.6 percent while automaker Renault was little changed.
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China Economic Data Disappoints
China's industrial production, retail sales and fixed asset investment registered weaker-than-expected growth in July, strengthening calls for further policy support to rebalance the economy towards consumption. Industrial production grew 5.7 percent in July from a year ago, following June's 6.8 percent increase, the National Bureau of Statistics reported Friday.
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Yen Rises Against Majors
The Japanese yen strengthened against other major currencies in the Asian session on Friday.
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NZ Dollar Falls On Soft China Data
The New Zealand dollar weakened against other major currencies in the Asian session on Friday, after China's industrial production and retail sales logged slower growth in July.
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NZ Dollar Falls Against Majors
The New Zealand dollar weakened against other major currencies in the Asian session on Friday.
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European Shares Seen Tad Higher As World Braces For Alaska Talks
European stocks are seen opening higher on Friday after the S&P 500 index closed at a new record high for the third consecutive day overnight despite concerns about slowing consumer spending.
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Australian Market Extends Early Gains In Mid-market
The Australian stock market is extending its early gains in mid-market moves on Friday, adding the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,900 level, with gains across most sectors led by energy and technology stocks.
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Asian Markets Trade Mixed
Asian stock markets are trading mixed on Friday, following the mixed cues from Wall Street overnight, as hotter-than expected US producer price inflation data and a resilient US labor market softened expectations of a higher interest rate cut by the US Fed in September. Traders also remain cautious ahead of the crucial U.S.-Russia talks to end the ongoing three-plus-year Russia-Ukraine war.
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Indian Markets Closed For Independence Day
Indian markets remain closed today as the nation marks its 78th Independence Day.
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