CAC 40 Tumbles On Energy Woes

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CAC 40 Tumbles On Energy Woes

(RTTNews) - French stocks fell sharply on Monday amid a deepening energy crisis in the region.

The EU countries' energy ministers will meet on Sept. 9 to discuss options to rein in soaring energy prices after Russia halted the flow of natural gas.

European gas prices soared 30 percent in early trading today as the energy crisis threatened to turn into an economic and financial crisis.

Investors were also reacting to data showing that France's dominant services sector lost more steam in August.

The benchmark CAC 40 was down 116 points, or 1.9 percent, at 6,051 after rising 2.2 percent on Friday.

Sanofi shares fell about 1 percent. The drugs group said it plans to name outgoing Société Générale boss Frédéric Oudéa as chair to replace veteran private equity executive Serge Weinberg at the next shareholders meeting.

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German Inflation Accelerates To 2.2% In August

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.
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Swiss Market Ends Modestly Lower

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.
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European Stocks Close Lower On Geopolitical Tensions

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.
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Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
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U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
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