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CAC 40 Subdued On Hawkish ECB Comments
(RTTNews) - French stocks were marginally lower on Friday as trading resumes on Wall Street later in the day after a holiday the previous day for Thanksgiving.
The benchmark CAC 40 was down 2 points at 6,705 after closing 0.4 percent higher on Thursday.
The euro rose for the fourth straight day against the dollar after hawkish ECB comments. ECB's Executive Board member Isabel Schnabel said on Thursday that "incoming data so far suggest that the room for slowing down the pace of rate adjustments remains limited". Orange SA shares rose half a percent. The telecommunications company has concluded a long-term agreement with 1&1 AG for the provision of international roaming services for the 1&1 mobile network.
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U.S. Dollar Drops After PCE Inflation Data
The U.S. dollar fell against its major counterparts in the New York session on Friday, following the release of PCE inflation data.
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Canadian Market Modestly Higher; Materials Stocks Shine
The Canadian market looks set to end on a positive note on Friday with the nation's GDP data and data showing U.S. consumer prices increased in line with expectations in the month of August help underpin sentiment.
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Swiss Market Settles On Firm Note
The Switzerland market closed on a firm note on Friday, in line with markets across Europe, as data showing U.S. consumer prices increased in line with estimates helped ease concerns about the outlook for rate cuts by the Federal Reserve. Investors largely shrugged off U.S. President Donald Trump's announcement of a fresh round of tariffs.
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European Markets Close On Firm Note On Renewed Hopes Of Fed Rate Cuts
Despite U.S. President Donald Trump's announcement of fresh tariffs on several items imported into America, the major European markets closed on a firm note on Friday amid prospects of the Federal Reserve lowering interest rates after a closely watched data showed consumer prices in U.S. increased in line with estimates in the month of August.
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U.S. Consumer Sentiment Declines Slightly More Than Initially Estimated In September
Consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of September, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for September was downwardly revised to 55.1 from a preliminary ready of 55.4.
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U.S. Consumer Price Growth Matches Estimates In August
The Commerce Department released a report on Friday showing consumer prices in the U.S. increased in line with economist estimates in the month of August. The report said the personal consumption expenditures (PCE) price index climbed by 0.3 percent in August after rising by 0.2 percent in July. The price growth matched expectations.
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Sunbeam Products Recalls 1.3 Mln Oster French Door Countertop Ovens
Atlanta, Georgia-based Sunbeam Products Inc. is recalling around 1.3 million units of Oster French Door Countertop Ovens citing risk of burn, according to the U.S. Consumer Product Safety Commission. The products, manufactured in China, were imported by Sunbeam and sold at Bed Bath and Beyond, Costco, Walmart and other stores and online.
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U.S. PCE Price Index Increases In Line With Estimates In August
The Commerce Department released a report on Friday showing consumer prices in the U.S. increased in line with economist estimates in the month of August.
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