CAC 40 Rallies As Lagarde Plays Down Recession Risks

RTTNews | 1056天前
CAC 40 Rallies As Lagarde Plays Down Recession Risks

(RTTNews) - French stocks rallied on Tuesday, as China cut quarantine time for international travelers in big step toward easing Covid-19 controls and ECB President Christine Lagarde played down fears of a recession in the euro zone.

"We have markedly revised down our forecasts for growth in the next two years. But we are still expecting positive growth rates due to the domestic buffers against the loss of growth momentum," Lagarde said at the Sintra Forum.

Meanwhile, France's consumer confidence weakened for the sixth straight month in June to reach its lowest level in nearly nine years, monthly survey results from the statistical office Insee showed earlier in the day. The consumer confidence index dropped to 82 in June from 85 in May.

The benchmark CAC 40 climbed 71 points, or 1.2 percent, to 6,118 after declining 0.4 percent the previous day.

Luxury retailers were on the rise, with Kering rallying 2.2 percent and LVMH adding 1.7 percent on optimism that Chinese demand will improve.

Valeo soared 3.8 percent after the car parts company won a major contract from BMW.

read more
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from Wall Street overnight, as traders remain cautiously optimistic on the outlook for markets after the U.S.-China temporary trade truce. They now stay focused on the outcome of US trade negotiations with India and Japan. Some traders also locked in profits following the recent upside in the markets.
RTTNews | 31分钟前
Sensex, Nifty Set To Follow Global Peers Higher

Sensex, Nifty Set To Follow Global Peers Higher

Indian shares look set to open higher on Tuesday, tracking firm cues from global markets as China cut its benchmark lending rates for the first time in 7 months to boost its struggling economy amid rising trade tensions.
RTTNews | 1小时2分钟前
Flat Lead Called For Thai Stock Market

Flat Lead Called For Thai Stock Market

The Thai stock market has alternated between positive and negative finishes through the last nine trading days since the end of the five-day winning streak in which it had advanced more than 50 points or 4.3 percent. The Stock Exchange of Thailand now sits just above the 1,185-point plateau and it figures to see little movement on Tuesday.
RTTNews | 1小时39分钟前
Japanese Market Significantly Higher

Japanese Market Significantly Higher

The Japanese stock market is trading significantly higher on Tuesday, snapping a four-session losing streak, following the broadly positive cues from Wall Street overnight, with the Nikkei 225 moving up to near the 37,800 level, with gains across all sectors led by index heavyweights and technology stocks.
RTTNews | 2小时0分钟前
Indonesia Bourse Due For Profit Taking

Indonesia Bourse Due For Profit Taking

The Indonesia stock market has finished higher in five straight sessions, improving more than 310 points or 4.5 percent in that span. The Jakarta Composite Index now rests just above the 7,140-point plateau although investors may lock in gains on Tuesday.
RTTNews | 2小时9分钟前
Hong Kong Shares Due For Support On Tuesday

Hong Kong Shares Due For Support On Tuesday

The Hong Kong stock market has moved lower in three straight sessions, dropping more than 300 points or 1.3 percent along the way. The Hang Seng Index now sits just above the 23,330-point plateau although it may halt its slide on Tuesday.
RTTNews | 2小时24分钟前
Australian Market Significantly Higher

Australian Market Significantly Higher

The Australian stock market is trading significantly higher on Tuesday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,300 level, with gains across most sectors led by technology, mining and financial stocks.
RTTNews | 2小时39分钟前
Little Movement Seen For China Stock Market

Little Movement Seen For China Stock Market

The China stock market on Monday ended the two-day slide in which it had slipped more than 35 points or 1 percent. The Shanghai Composite Index now rests just above the 3,365-point plateau and it's likely to remain in that neighborhood again on Tuesday.
RTTNews | 2小时39分钟前