CAC 40 Little Changed As Recession Worries Mount

RTTNews | Pred 893 dňami
CAC 40 Little Changed As Recession Worries Mount

(RTTNews) - French stocks were little changed on Thursday amid concerns that the Federal Reserve's ongoing interest rate hikes are driving the U.S. economy straight into a recession.

Sentiment was also hit by signs of weakening Chinese economic growth and concerns that the COVID pandemic in China may worsen.

The benchmark CAC 40 was marginally lower at 6,664 after closing down 0.4 percent the previous day.

The euro rose for a second day, approaching a six-month high against the dollar as U.S. Treasury yields dropped on expectations that the Federal Reserve might slow down its pace of policy tightening to avoid an impending recession in the United States.

Shares of automaker Renault were down 1.6 percent. The company said its new mobility unit Mobilize and deputy CEO of the group Clotilde Delbos has resigned.

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China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China's industrial production increased more than expected in April despite trade tariff hikes and the unemployment rate dropped marginally but growth in retail sales fell short of expectations signalling weaker domestic demand, official data revealed on Monday. Industrial output logged an annual growth of 6.1 percent in April after rising 7.7 percent in March.
RTTNews | Pred 1 h 53 min
Thai Downgrades GDP Growth Outlook

Thai Downgrades GDP Growth Outlook

Thailand's economy is projected to expand less than the previous estimate this year as trade tariffs are likely to dampen exports in the second half of the year, the National Economic and Social Development Council said Monday. Southeast Asia's second largest economy is forecast to grow in the range of 1.3 percent to 2.3 percent this year. This was down from the previous outlook of 2.3 percent-
RTTNews | Pred 3 h 27 min
Fijian Import & Export Recalls Ready-To-Eat Meat Pie Products

Fijian Import & Export Recalls Ready-To-Eat Meat Pie Products

Hayward, California-based Fijian Import & Export Co. Inc. is recalling around 127 pounds of ready-to-eat meat pie products from Australia that were not presented for import reinspection upon entry into the United States, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The recall involves 5.6-oz. plastic packages...
RTTNews | Pred 4 h 19 min
Australian Market Halves Early Losses In Mid-market

Australian Market Halves Early Losses In Mid-market

The Australian stock market is halving its early losses in mid-market trading on Monday, snapping an eight-session winning streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,300.00 level, with weakness in iron ore miners, energy and financial stocks partially offset by gains in gold miners.
RTTNews | Pred 5 h 57 min
Asian Markets Trade Mostly Lower

Asian Markets Trade Mostly Lower

Asian stock markets are mostly lower on Monday, following the positive cues from Wall Street on Friday, as traders react to surprise downgrade of the US government's credit rating by one notch to Aa1 by Moody's Ratings, being the last of the three major credit rating agencies to downgrade it. They also react to China announcing anti-dumping duties on plastics from the U.S., EU, Japan and Taiwan.
RTTNews | Pred 6 h 13 min