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CAC 40 Climbs As Biden Says US Can Avert Recession
(RTTNews) - French stocks advanced on Friday amid optimism that China's economy is poised for a steady recovery from the COVID-19 impact.
Investors were also reacting to comments by U.S. President Joe Biden that a U.S. recession isn't inevitable and that the country was "in a stronger position than any nation in the world to overcome inflation."
The benchmark CAC 40 rose 49 points, or 0.8 percent, to 5,935 after declining 2.4 percent in the previous session.
EssilorLuxottica SA shares rose over 2 percent. The provider of ophthalmic lenses and frame said it will buy back up to 2.5 million shares in the period starting from June 17 to August 31, for a price not exceeding 200 euros per share.
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Pound Falls Against Most Majors
The pound weakened against its most major counterparts in the New York session on Wednesday.
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1h 10min ago
Swiss Market Ends On Positive Note
The Switzerland market, which held firm till well past noon on Wednesday after a steady start, suffered a setback in the final hour, but managed to recover in the closing minutes to sign off on a positive note. Easing worries about tariffs and some strong results helped underpin sentiment.
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2h 15min ago
Major European Markets Close Higher As Investors React To Earnings, Economic Data
The major European markets closed higher on Wednesday amid easing trade tensions, and on largely encouraging quarterly results from several big name companies.
Investors also digested a slew of regional economic data, and U.S. GDP report.
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2h 44min ago
TSX Down Nearly 1% Despite Coming Off Early Lows
Despite staging a fairly strong recovery after an early setback, the Canadian market remains firmly down in negative territory a little past noon on Wednesday, with stocks from energy, technology and healthcare sectors reeling under selling pressure.
Disappointing Canadian and U.S. GDP data, and Trump administration's policy uncertainty are weighing on sentiment.
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3h 28min ago
German Inflation At 6-Month Low, Core Figure Accelerates First Time In 4 Months
Germany's consumer price inflation slowed for a second straight month in April to its lowest level in six months as energy prices continued to fall, but the core price growth accelerated for the first time since December as services cost growth increased, which warrants caution from the European Central Bank that is set to reduce interest rates further.
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3h 38min ago
U.S. Pending Home Sales Unexpectedly Spike 6.1% March
Partly reflecting a substantial increase in the South, the National Association of Realtors released a report on Wednesday showing an unexpected spike by pending home sales in the U.S. in the month of March. NAR said its pending home sales index surged by 6.1 percent to 76.5 in March after jumping by 2.1 percent to a revised to 72.1 in February.
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5h 13min ago
U.S. Consumer Prices Virtually Unchanged In March, In Line With Estimates
A closely watched report released by the Commerce Department on Wednesday showed U.S. consumer prices were virtually unchanged in the month of March. The Commerce Department said its personal consumption expenditures (PCE) price index edged down by less than a tenth of a percent in March after rising by an upwardly revised 0.4 percent in February.
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5h 16min ago
Chicago Business Barometer Drops More Than Expected In April
MNI Indicators released a report on Wednesday showing its reading on Chicago-area business activity fell by more than expected in the month of April.
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5h 59min ago
