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CAC 40 Slightly Higher After PMI Data
(RTTNews) - French stocks were higher on Thursday amid expectations that the rate-hike cycle has ended globally, and rate cuts might begin next year.
The downside remained capped after a survey showed French business activity contracted again in November.
The HCOB flash November composite PMI - which comprises both the services and manufacturing sectors - slipped to 44.5 points from 44.6 in October.
Meanwhile, Eurozone business activity fell again in the month, stoking recession fears.
The PMI covering the bloc's overall economic health edged up to 47.1 from October's near three-year low of 46.5.
The benchmark CAC 40 was up 13 points, or 0.2 percent, at 7,274 after gaining 0.4 percent the previous day.
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U.S. Dollar Declines After Softer-than-expected Inflation Data
The U.S. dollar dropped against its major counterparts in the New York session on Wednesday, as the consumer price index came in softer than expected in May.
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Swiss Market Fails To Hold Early Gains, Settle Modestly Lower
The Switzerland market ended modestly lower on Wednesday despite spending much of the day's trading session in positive territory.
Although the market gained some ground in positive territory, reacting to news about U.S. and Chinese officials reaching a framework to implement the Geneva consensus following two days of discussions in London, the mood turned cautious later on in the session.
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European Stocks Pare Early Gains, Close Mostly Lower
Despite U.S. and Chinese officials announcing an agreement in principle on a framework to ease trade disputes, European stocks failed to hold early gains and closed mostly lower on Wednesday, with the mood turning cautious as the plan is subject to approval by the presidents of the two nations.
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TSX Hits Fresh Record High; Technology, Consumer Discretionary Stocks Shine
The Canadian market is modestly higher a little past noon on Wednesday, after hitting a fresh record high earlier in the session, amid easing Sino-US trade tensions, somewhat tame U.S. consumer price inflation data, and higher crude oil prices.
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ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year
A measure, based on the collective bargaining agreements in the euro area, suggested that negotiated wage growth is set to ease significantly this year, the European Central Bank said on Wednesday, which adds to expectations of inflation staying near the 2 percent target.
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U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected
A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.2 percent in April. Economists had expected another 0.2 percent increase.
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Bay Street Seen Opening On Mixed Note
It's likely to be a mixed start for Canadian shares on Wednesday with investors reacting to the crucial U.S. consumer price inflation data, and the developments on the trade front where U.S. and Chinese official reached a framework to implement the Geneva consensus following two days of discussions in London.
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U.S. Consumer Prices Inch Up Slightly Less Than Expected In May
A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May.
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