CA 40 Slips As Focus Turns To ECB

RTTNews | 1086 dagar sedan
Stocktwits
CA 40 Slips As Focus Turns To ECB

(RTTNews) - French stocks fell in cautious trade on Wednesday after official data showed Chinese exports growth slowed sharply in August amid softening global demand.

Overseas shipments rose an annual 7.1 percent, compared to 18 percent growth in July, China's General Administration of Customs said.

Imports growth slowed to 0.3 percent from 2.3 percent in July, adding to worries over a possible global recession.

All eyes now turn to the European Central Bank (ECB) meeting due Thursday given talk of a faster pace of tightening.

Euro zone bond yields rose today amid increased bets on a 75-basis point rate hike from the ECB to tame record-high inflation.

The benchmark CAC 40 was down 18 points, or 0.3 percent, at 6,086 after closing 0.2 percent higher the previous day.

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U.S. Pending Home Sales Fall More Than Expected In July

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A report released by the National Association of Realtors on Thursday showed pending home sales in the U.S. fell by more than expected in the month of July. NAR said its pending home sales index decreased by 0.4 percent to 71.7 in July after sliding by 0.8 percent to 72.0 in June. Economists had expected pending home sales to edge down by 0.1 percent.
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