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CAC 40 Climbs As Biden Says US Can Avert Recession
(RTTNews) - French stocks advanced on Friday amid optimism that China's economy is poised for a steady recovery from the COVID-19 impact.
Investors were also reacting to comments by U.S. President Joe Biden that a U.S. recession isn't inevitable and that the country was "in a stronger position than any nation in the world to overcome inflation."
The benchmark CAC 40 rose 49 points, or 0.8 percent, to 5,935 after declining 2.4 percent in the previous session.
EssilorLuxottica SA shares rose over 2 percent. The provider of ophthalmic lenses and frame said it will buy back up to 2.5 million shares in the period starting from June 17 to August 31, for a price not exceeding 200 euros per share.
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Asian Markets Track Wall Street Higher
Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, amid easing concerns about the ongoing trade war after US President Donald Trump unveiled the framework of a trade agreement with the U.K. The Japanese markets are leading regional gains amid hopes that the country will reach a trade agreement with the U.S. in June.
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Sensex, Nifty Set To Extend Losses As India-Pakistan Tensions Escalate
Indian shares look set to extend losses on Friday amid worries that the escalation of conflict with Pakistan, rising oil prices and a weakening rupee could hurt capital flows.
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Thai Shares Likely To Remain Rangebound
The Thai stock market has finished lower in two of three trading days since the end of the five-day winning streak in which it had advanced more than 50 points or 4.3 percent. The Stock Exchange of Thailand now sits just above the 1,205-point plateau although it may tick higher again on Friday.
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Japanese Market Significantly Higher
Extending the gains in the previous session, the Japanese market is significantly higher on Friday, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 37,200 level, with gains across all sectors led by index heavyweights and financial stocks.
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Indonesia Stock Market May Erase Thursday's Losses
The Indonesia stock market on Thursday ended the eight-day winning streak in which it had rallied more than 210 points or 3.2 percent. The Jakarta Composite Index now rests just above the 6,825-point plateau although it may find renewed support on Friday.
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Hong Kong Bourse Tipped To Open In The Green
The Hong Kong stock market has tracked higher in six straight sessions, soaring more than 800 points or 3.7 percent along the way. The Hang Seng Index now sits just above the 22,775-point plateau and it's expected to open to the upside again on Friday.
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Australian Market Slightly Higher
The Australian stock market is trading slightly higher on Friday after opening in the red, adding to the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,200 level, with gains in technology and energy stocks partially offset by weakness in mining and financial stocks.
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China Shares May Extend Winning Streak
The China stock market has finished higher in three straight sessions, gathering more than 70 points or 2.2 percent along the way. The Shanghai Composite Index now rests just above the 3,350-point plateau and it's expected to open to the upside again on Friday.
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