CAC 40 Slides Ahead Of Powell's Speech

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CAC 40 Slides Ahead Of Powell's Speech

(RTTNews) - French stocks fell notably on Wednesday, as renewed fears over a possible recession overshadowed recent optimism about China reopening.

Investors await the release of Eurozone's consumer confidence data for June and a preliminary reading on German inflation for further direction.

Traders also seemed reluctant ahead of a speech by European Central Bank President Christine Lagarde at the Sintra forum, alongside Federal Reserve Chairman Jerome Powell and Bank of England Governor Andrew Baile.

The benchmark CAC 40 was down 37 points, or 0.6 percent, at 6,049 after rising 0.6 percent in the previous session.

EssilorLuxottica shares declined 2.5 percent. Leonardo Del Vecchio, the chairman of the eyeglass retailer and one of Italy's wealthiest business figures, passed away at the age of 87.

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DAX Modestly Higher As Investors React To Earnings

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Despite disappointing factory orders data, and U.S. President Donald Trump's threat that he would impose tariffs on pharma and chips, German stocks are gaining some ground in positive territory on Wednesday. Some upbeat earnings announcements and expectations of a Fed interest rate cut next month appear to be aiding sentiment.
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Commodity Currencies Rise Amid Risk-Appetite

Commodity Currencies Rise Amid Risk-Appetite

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Downturn In UK Construction Activity Deepens

Downturn In UK Construction Activity Deepens

The UK construction sector downturn deepened in July as volumes of work carried out across all sectors decreased markedly, survey results from S&P Global showed on Wednesday. The headline construction Purchasing Managers' Index fell to 44.3 in July from 48.8 in June. The score signaled the sharpest contraction since May 2020.
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