CAC Rises 1.3% On U.S-EU Trade Deal Optimism

RTTNews | 8 days ago

(RTTNews) - French stocks are up firmly in positive territory on Wednesday, recovering well from recent losses. U.S. President Donald Trump's announcement about trade deals with Japan and Philippines has raised hopes the European Union will soon strike a deal with the U.S. ahead of the August 1 deadline.

The prospects of an EU-U.S. trade agreement improved after Trump said that EU representatives would come for trade negotiations on Wednesday.

"We have Europe coming in tomorrow, and the next day, we have some other ones coming in," Trump said late on Tuesday, without specifying details.

The benchmark CAC 40 was up 102.20 points or 1.32% at 7,846.61 a little while ago.

Stellantis is rising nearly 7%. Kering is gaining 3.85% and Teleperformance is climbing up 3.1%. Renault is up 3.3% after vehicle sales rose by 1.3% in the first half of the year.

Saint Gobain, L'Oreal, LVMH, BNP Paribas, Sanofi and Hermes International are up 2 to 3%. Michelin, Pernod Ricard, Eurofins Scientific are up nearly 2%.

AXA, Airbus, Safran, Accor, Vinci, EssilorLuxottica, Carrefour, Societe Generale, Schneider Electric and Unibail Rodamco are gaining 1 to 1.8%.

Edenred is up 1.7%. the company announced that its net profit remained flat in the first half compared to the previous year due to higher financial and tax expenses. For the first half, net profit remained at 235 million euros compared with last year.

Adjusted net profit increased to 279 million euros from 268 million euros in the previous year. Adjusted earnings per share were 1.16 euro versus 1.08 euro last year.

French train maker Alstom is up more than 4.5% as first-quarter sales topped estimates.

Aerospace and defense company Thales is down 1%. The company reported adjsted net income of 877 million euros for the first-half, compared to 866 million euros a year ago. In the first half, net income from continuing operations grew 6% to 664 million euros from prior year's 625 million euros.

Looking ahead, for fiscal 2025, the company expects adjusted EBIT margin to be in the range of 12.2% to 12.4%, mainly driven by the margin progression in the Aerospace segment and continued high margin in Defence.

STMicroElectronics is lower by nearly 3%. Engie and Orange are modestly lower.

Japanese Market Notably Lower

Reversing the gains in the previous session, the Japanese market is notably lower on Friday, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 40,700 level, with weakness in financial and technology stocks partially offset by gains in exporters and automaker stocks.

RTTNews | 1h 5min ago

Australian Market Notably Lower

The Australian stock market is trading notably lower on Friday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,700 level, with weakness across most sectors led by energy and technology stocks.

RTTNews | 1h 7min ago

Pound Slides Against Most Majors

The pound fell against its most major counterparts in the New York session on Thursday.

RTTNews | 7h 3min ago

Swiss Market Ends Moderately Lower

Despite a decent spell in positive territory till about an hour before noon, the Switzerland market turned weak and kept drifting lower as the session progressed on Thursday to eventually settle with a moderate loss.

RTTNews | 8h 55min ago

European Stocks Close Mostly Weak As Investors React To Earnings

European markets closed mostly lower on Thursday as investors reacted to a slew of earnings announcements and digested the latest batch of economic data from the region, and also followed the developments on the trade front.

RTTNews | 9h 25min ago

U.S. Consumer Price Growth Matches Estimates In June

A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in June after inching up by an upwardly revised 0.2 percent in May.

RTTNews | 12h 14min ago

German Unemployment Rises In July

Germany's unemployment increased less than expected in July but the overall number of people out of work remained close to the 3 million mark due to the prolonged period of economic slowdown, official data revealed on Thursday. The number of unemployed rose by less-than-expected 2,000 from June, the Federal Employment Agency said. For July, economists had forecast an increase of 15,000.

RTTNews | 12h 56min ago

U.S. Jobless Claims Inch Up Less Than Expected To 218,000

First-time claims for U.S. unemployment benefits edged slightly higher in the week ended July 26th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims crept up to 218,000, an increase of 1,000 from the previous week's unrevised level of 217,000. Economists had expected jobless claims to rise to 224,000.

RTTNews | 13h 4min ago

EURUSD	1.14128	GBPUSD	1.31952	AUDUSD	0.64309
USDJPY	150.731	USDCAD	1.38569	USDCHF	0.81378

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CAC Rises 1.3% On U.S-EU Trade Deal Optimism