CAC 40 Slips On Recession Worries

RTTNews | 924 days ago
CAC 40 Slips On Recession Worries

(RTTNews) - French stocks fell sharply on Friday as concerns over inflation and recession overshadowed a slew of positive earnings updates.

The benchmark CAC 40 fell 94 points, or 1.5 percent, to 5,992 after climbing 0.8 percent the previous day.

Cosmetics group L'Oreal slumped 4.3 percent despite posting robust sales growth over the third quarter.

Automaker Renault fell 2.3 percent after reporting a dip in Q3 auto sales, hit by supply constraints.

Rexel Group shares were down 3 percent. The energy products and services firm said that one of its entities has been placed under a formal probe related to derogation case requiring it to set aside a bank guarantee of 20 million euros and a cash guarantee of 48 million euros to be paid by January 15, 2023.

Luxury eyewear maker EssilorLuxottica tumbled 3 percent despite the company reporting a rise in third-quarter revenues.

Media company Vivendi lost about 4 percent after saying it will go ahead with the spin off its publishing business Editis.

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Swiss Market Ends On Bright Note

Swiss Market Ends On Bright Note

The Switzerland market closed on a strong note on Friday, mirroring the trend in markets across Europe and elsewhere, as worries about trade tensions eased after China stated its willingness to hold talks with the U.S.
RTTNews | 2h 41min ago
European Stocks Close On Buoyant Note

European Stocks Close On Buoyant Note

European stocks closed higher on Friday, with the major markets in the region posting strong gains, amid easing concerns about U.S-China trade relations, and on upbeat U.S. non-farm payroll data.
RTTNews | 3h 3min ago
Canadian Market Up Firmly In Positive Territory

Canadian Market Up Firmly In Positive Territory

The Canadian market is up firmly in positive territory a little past noon on Friday, amid easing concerns about U.S.-China trade tensions following China expressing willingness to hold tariff talks with the United States. Data showing a much higher than expected increase in U.S. non-farm payroll growth in the month of April is also aiding sentiment.
RTTNews | 4h 0min ago
U.S. Factory Orders Spike Slightly Less Than Expected In March

U.S. Factory Orders Spike Slightly Less Than Expected In March

The Commerce Department released a report on Friday showing a sharp increase by new orders for U.S. manufactured goods in the month of March. The report said factory orders spiked by 4.3 percent in March after rising by a downwardly revised 0.5 percent in February.
RTTNews | 5h 58min ago
U.S. Employment Jumps By 177,000 Jobs In April, Much More Than Expected

U.S. Employment Jumps By 177,000 Jobs In April, Much More Than Expected

Job growth in the U.S. far exceeded economist estimates in the month of April, according to a closely watched report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment shot up by 177,000 jobs in April compared to expectations for an increase of about 130,000 jobs.
RTTNews | 6h 52min ago
Eurozone Inflation Remains Stable At 2.2%

Eurozone Inflation Remains Stable At 2.2%

Euro area annual inflation remained stable in April near the European Central Bank's 2 percent target, but the trade tariff uncertainty clouds the outlook. The harmonized index of consumer prices grew 2.2 percent on a yearly basis in April, the same pace of increase as seen in March, flash data from Eurostat showed on Friday. Prices were expected to climb at a slower pace of 2.1 percent.
RTTNews | 7h 16min ago
Eurozone Manufacturing Activity Shrinks At Slower Pace

Eurozone Manufacturing Activity Shrinks At Slower Pace

Euro area factory activity contracted at a slower pace in April as production grew at the fastest pace in more than three years, final data of the purchasing managers' survey by S&P Global showed Friday. The HCOB manufacturing Purchasing Managers' Index rose to a 32-month high of 49.0 in April from 48.6 in March. The score was also above the flash estimate of 48.7.
RTTNews | 7h 28min ago
Bay Street May Open Higher

Bay Street May Open Higher

The Canadian market is likely to open on a positive note on Friday, tracking firm European stocks amid easing concerns over U.S.-China trade tensions after Beijing stated its willingness to engage in tariff negotiations with the United States.
RTTNews | 7h 31min ago