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CAC 40 Tumbles As Recession Fears Mount

RTTNews | Pred 1132 dňami

CAC 40 Tumbles As Recession Fears Mount

(RTTNews) - French stocks tumbled on Thursday after the world's top central bank chiefs warned that the high inflation pressure may last longer than expected.

Cleveland Fed chief Loretta Mester said the U.S. central bank is "just at the beginning of raising rates" and there are "risks of recession." She wants to see the benchmark lending rate hit 3-3.5 percent this year and "a little bit above four percent next year".

Meanwhile, French inflation quickened to the fastest since the euro was introduced, raising pressure on President Emmanuel Macron to address high inflation through a package of measures.

Consumer price inflation stood at 5.8 percent in June, up from 5.2 percent in May, data showed. The EU-harmonized figure climbed to 6.5 percent, ahead of forecasts of 6.3 percent.

The benchmark CAC 40 fell 118 points, or almost 2 percent, to 5,913 after losing 0.9 percent in the previous session.

Economy-linked sectors led losses, with banks BNP Paribas, Credit Agricole and Societe Generale falling 3-5 percent. Automaker Renault lost 3.5 percent.

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U.S. Service Sector Growth Unexpectedly Slows In July

U.S. Service Sector Growth Unexpectedly Slows In July

A report released by the Institute for Supply Management on Tuesday unexpectedly showed a modest slowdown in the pace of growth by U.S. service sector activity in the month of July. The ISM said its services PMI edged down to 50.1 in July from 50.8 in June. While a reading above 50 still indicates growth, economists had expected the index to rise to 51.5.

RTTNews | Pred 27 minútami

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday. The Commerce Department said the trade deficit shrank to $60.2 billion in June from a revised $71.7 billion in May.

RTTNews | Pred 1 h 13 min

U.S. Trade Deficit Narrows Slightly More Than Expected In June

U.S. Trade Deficit Narrows Slightly More Than Expected In June

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday.

RTTNews | Pred 2 h 18 min

Eurozone Private Sector Continues To Expand

Eurozone Private Sector Continues To Expand

Euro area private sector remained in the expansionary territory in July but the rate of growth remained sluggish as stagnant demand pulled back production, final survey results of the purchasing managers' survey by S&P Global showed on Tuesday. The HCOB composite output index rose to 50.9 in July from 50.6 in June. The flash reading was 51.0. A score above 50.0 indicates expansion.

RTTNews | Pred 2 h 20 min

Bay Street May Open Slightly Higher

Bay Street May Open Slightly Higher

Canadian stocks may open on a positive note Tuesday morning amid expectations of a rate cut by the Federal Reserve next month. The focus will be on trade talks between Canad and Mexico.

RTTNews | Pred 2 h 32 min

FTSE 100 Advances On Upbeat Earnings

FTSE 100 Advances On Upbeat Earnings

The UK market is modestly higher on Tuesday, extending gains from previous session, thanks to some upbeat corporate earnings announcements, and expectations that the Federal Reserve will cut interest rate in the near future to spur economic growth.

RTTNews | Pred 3 h 0 min

Pound Rises As Traders Await BoE Monetary Policy Meeting

Pound Rises As Traders Await BoE Monetary Policy Meeting

The British pound strengthened against other major currencies in the European session on Tuesday, as traders shift their focus to the Bank of England's (BoE) monetary policy announcement on Thursday.

RTTNews | Pred 3 h 11 min

CAC 40 Modestly Higher

CAC 40 Modestly Higher

The French stock market is modestly higher Tuesday afternoon with investors mostly reacting to earnings updates and a mixed batch of regional economic data. Expectations of a rate cut by the Federal Reserve sometime soon aid sentiment a bit.

RTTNews | Pred 3 h 31 min

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