CAC 40 Tumbles Ahead Of Fed, ECB Decisions

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CAC 40 Tumbles Ahead Of Fed, ECB Decisions

(RTTNews) - French stocks were sharply lower on Wednesday as investors braced for interest-rate decisions from the U.S. Federal Reserve and the European Central Bank, due today and tomorrow respectively.

The benchmark CAC 40 was down 94 points, or 1.3 percent, at 7,321 after declining 0.2 percent on Tuesday.

LVMH tumbled 3.7 percent after the luxury goods giant reported a surprise drop in U.S. sales amid economic uncertainty.

Danone lost 2.7 percent. The maker of Activia yoghurt, Evian water and Aptamil infant milk announced that it would "deconsolidate" its Russia business in July, bringing the total impairments related to the country to almost 700 million euros.

Automaker Renault declined 1.4 percent after finalizing a revamped alliance with Nissan.

Telecom major Orange plummeted 3.4 percent after consolidated net income declined by 378 million euros to 1.09 billion euros in the first half of 2023 on an historical basis.

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China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China's industrial production increased more than expected in April despite trade tariff hikes and the unemployment rate dropped marginally but growth in retail sales fell short of expectations signalling weaker domestic demand, official data revealed on Monday. Industrial output logged an annual growth of 6.1 percent in April after rising 7.7 percent in March.
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Thai Downgrades GDP Growth Outlook

Thai Downgrades GDP Growth Outlook

Thailand's economy is projected to expand less than the previous estimate this year as trade tariffs are likely to dampen exports in the second half of the year, the National Economic and Social Development Council said Monday. Southeast Asia's second largest economy is forecast to grow in the range of 1.3 percent to 2.3 percent this year. This was down from the previous outlook of 2.3 percent-
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Fijian Import & Export Recalls Ready-To-Eat Meat Pie Products

Fijian Import & Export Recalls Ready-To-Eat Meat Pie Products

Hayward, California-based Fijian Import & Export Co. Inc. is recalling around 127 pounds of ready-to-eat meat pie products from Australia that were not presented for import reinspection upon entry into the United States, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The recall involves 5.6-oz. plastic packages...
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Australian Market Halves Early Losses In Mid-market

Australian Market Halves Early Losses In Mid-market

The Australian stock market is halving its early losses in mid-market trading on Monday, snapping an eight-session winning streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,300.00 level, with weakness in iron ore miners, energy and financial stocks partially offset by gains in gold miners.
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