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CAC 40 Gains In Lackluster Trade
(RTTNews) - French stocks were a tad higher on Wednesday as Eurozone bond yields eased after the release of U.K. inflation data showing that inflation in the country fell to a 17-month low in July due to a fall in energy prices.
The British pound edged higher against the euro and other major currencies after inflation fell from 7.9 percent to 6.8 percent, matching the consensus estimates.
That said, a cautious undertone prevailed amid uncertainty over the Federal Reserve's future rate hike path, more disappointing Chinese economic data and fresh concerns over the health of the U.S. banking sector keeping investors nervous.
The benchmark CAC 40 was up 26 points, or 0.4 percent, at 7,293 after losing 1.1 percent the previous day.
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China Trade Data On Tap For Thursday
China will on Thursday release July figures for imports, exports and trade balance, highlighting a busy day for Asia-Pacific economic activity.
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U.S. Dollar Drops Against Majors
The U.S. dollar weakened against its major counterparts in the New York session on Wednesday.
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Swiss Market Ends Notably Lower
Save for a few minutes about an hour after the opening bell, the Switzerland market stayed weak on Wednesday with several stocks reeling under selling pressure.
Investors were cautious amid concerns about the impact of U.S. tariffs, and Donald Trump's fresh threat that his government might consider imposing tariffs on chips and pharmaceuticals.
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European Stocks Close Mostly Higher On Earnings, Fed Rate Cut Hopes
European stocks closed mostly higher on Wednesday, thanks largely to some strong corporate earnings updates, and expectations of an interest rate reduction by the Federal Reserve in September.
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Canadian Stocks Surge Higher Again; TSX Scales New Record High
Canadian stocks are up firmly in positive territory on Wednesday, and the benchmark S&P/TSX Composite Index stays high up after hitting a fresh record. Rising optimism about a rate cut by the Federal Reserve in September, firm oil prices and some upbeat corporate earnings announcements are contributing to the positive mood in the market.
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India Holds Key Interest Rates Steady As Trade Tensions Escalate
The Reserve Bank of India left its key interest rates unchanged on Wednesday after an aggressive cut in June as the economy faces another threat from the US due to its Russian oil imports. The RBI Monetary Policy Committee, led by Governor Sanjay Malhotra, unanimously decided to hold the policy repo rate at 5.50 percent. The bank had reduced the rate by 50 basis points in June.
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Bay Street Looks Set To Extend Upmove
Canadian shares look headed for a positive start on Wednesday, riding on some impressive corporate earnings updates, and higher oil prices. The focus will also be on the developments on the trade front.
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Eurozone Retail Sales Recover In June
Euro area retail sales rebounded in June suggesting that household spending likely supported economic growth in the second quarter, official data revealed on Wednesday. Retail sales grew 0.3 percent on a monthly basis in June, offsetting May's 0.3 percent decline, Eurostat said. However, this was marginally weaker than economists' forecast for a 0.4 percent increase.
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