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CAC 40 Drops On China Concerns
(RTTNews) - French stocks fell notably on Monday after a slew of Chinese data including reports on GDP, industrial output and retail sales proved to be a mixed bag, raising concerns about economic recovery in the world's second-largest economy.
The benchmark CAC 40 was down 54 points, or 0.7 percent, at 7,321 after ending flat with a positive bias on Friday.
China-related luxury-goods makers were coming under selling pressure, with Kering, Hermes and LVMH falling between 1.5 percent and 3.4 percent.
Danone edged down slightly. The food and beverage company reported about Russian authorities' decision to place Danone Russia under temporary external administration of the country's Federal Agency for State Property Management.
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European Shares Inch Higher In Lackluster Trade
European shares inched higher on Tuesday as investors watched the latest developments on the trade front and reacted to widely expected rate cuts in China to stimulate consumption and loan growth.
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24 minuter sedan
Australian Dollar Falls After RBA Rate Cut Decision
The Australian dollar weakened against other major currencies in the Asian session on Tuesday, Australia's central bank lowered its benchmark rate by a quarter-point on Tuesday as risks to inflation became more balanced.
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36 minuter sedan
Asian Shares Mostly Higher In Cautious Trade
Asian stocks ended mostly higher on Tuesday after China and Australia cut interest rates as expected.
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53 minuter sedan
Australia Cuts Key Interest Rate For Second Time This Year
Australia's central bank lowered its benchmark rate by a quarter-point for the second time this year as risks to inflation became more balanced, while uncertainties regarding economic outlook increased due to trade protectionism measures. The policy board of the Reserve Bank of Australia, governed by Michele Bullock, decided to cut the cash rate target to 3.85 percent from 4.10 percent.
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1h 37minuter sedan
China Cuts Loan Prime Rates For First Time In 7 Months
The People's Bank of China reduced its benchmark interest rate for the first time in seven months to stimulate consumption and support the property market amid soothing trade tensions. The central bank lowered its one-year loan prime rate by 10 basis points to 3.0 percent from 3.10 percent.
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3h 4minuter sedan
Australian Dollar Falls Against Majors
The Australian dollar weakened against other major currencies in the Asian session on Tuesday.
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3h 31minuter sedan
European Shares Likely To Open On Firm Note
European stocks may open on a positive note Tuesday as trade tensions continue to ease, and China's central bank cut interest rates to record lows to stimulate the world's second-largest economy challenged by weak consumer demand and a property crisis.
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4h 6minuter sedan
R&M Refresher Instant Milk Tea Powder Recalled
Lakewood, Washington-based R&M Trading LLC is recalling R&M Refresher brand Instant Milk Tea powder products of various flavors as they may contain undeclared milk, a known allergen, the U.S. Food and Drug Administration said. The Instant Milk Tea products are recalled because the ingredients statement declares Whey and Caseinate in Non-Dairy Creamer ingredients, but it does not specify milk.
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4h 14minuter sedan
