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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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German business sentiment weakened to a four-month low in September as prospects of an economic recovery suffered a setback, monthly survey results from the Munich-based ifo Institute showed Wednesday. The business climate index fell unexpectedly to 87.7 in September from 88.9 in the previous month. The score was seen at 89.3.
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DAX Modestly Lower As Powell's Comments Raise Valuation Concerns
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Asian Shares Mixed; China And Hong Kong Outperform
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Indian Rupee Falls To Record Low Against U.S. Dollar
The Indian rupee weakened against the U.S. dollar in the Asian session on Wednesday, due to rising H-1B visa costs and trade tensions between the US and India.
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