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CAC 40 Subdued On Rate Hike Jitters
(RTTNews) - French stocks were little changed in cautious trade on Wednesday, a day after Federal Reserve Chair Jerome Powell flagged sharper rate hikes to rein in stubbornly high inflation depending on incoming data.
It is now believed that the Fed would revert to a 50-basis point rate hike at the March 21-22 policy meeting instead of 25 bps expected earlier.
The dollar climbed to three-month highs and the U.S. yield curve inverted further, denting demand for riskier assets.
The benchmark CAC 40 was marginally lower at 7,332 after declining half a percent the previous day.
Aerospace and defense company Thales Group tumbled 3 percent despite posting higher earnings and sales for 2022.
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Eurozone Private Sector Expands Most Since Early 2023
The euro area private sector posted its strongest expansion since May 2023, supported by improved demand conditions, final survey data from S&P Global showed on Wednesday. The HCOB final composite output index improved to 52.5 in October from 51.2 in September. This was the highest score since May 2023, indicating a breakout from the generally subdued growth trend seen throughout 2025 so far.
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CAC 40 Modestly Lower In Cautious Trade
French stocks are showing weakness on Wednesday, amid concerns about stretched valuations in technology stocks, and lingering worries about the potential impact of Trump administration's tariff policies.
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German stocks are down in negative territory on Wednesday, extending losses from the previous session, amid concerns over high valuations and lingering worries about global economic growth due to the impact of trade tensions.
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Indonesia GDP Growth Slows In Q3
Indonesia's economic growth softened in the third quarter as anti-government unrest weighed on household consumption, official data showed Wednesday. Gross domestic product grew 5.04 percent on a yearly basis in the third quarter, slower than the 5.12 percent expansion seen in the second quarter.
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Commodity Currency's Slide Amid Risk-off Mood
The commodity currencies such as the Australia, the New Zealand and Canadian dollars weakened against their major currencies in the Asian session on Wednesday amid increasing risk-off sentiment, dragged by the benchmark indexes in Japan and South Korea which are plunging 4 to 5 percent each on concerns over stretched valuations as global tech stocks tumble on fears that an AI bubble is about to burst.
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European Shares Flat To Lower In Cautious Trade
European stocks were flat to slightly lower on Wednesday to hover near a two-week low following an overnight selloff in U.S. technology stocks.
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Canadian Dollar Drops Against Most Majors
The Canadian dollar weakened against most major currencies in the Asian session on Wednesday.
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NZ Dollar Slides Against Most Majors
The New Zealand dollar weakened against most major currencies in the Asian session on Wednesday.
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