CAC 40 Declines Further
(RTTNews) - The CAC 40 benchmark that tracks the 40 largest French stocks based on the Euronext Paris extended losses on Wednesday as investors weighed the latest batch of corporate earnings results. Markets also turned their focus on the U.S. jobs report due on Wednesday morning for clearer direction on the Federal Reserve's next moves.
The CAC 40 benchmark is currently trading at 8,317.55, slipping 0.12 percent from the previous close of 8,327.88. The day's trading has been between 8,277.96 and 8,344.25. Amidst the weak sentiment, only 18 scrips in the 40-stock index are trading above the flatline.
Schneider Electric topped gains with an addition of more than 4 percent. ArcelorMittal followed with gains of 3.1 percent. Legrand added 2.8 percent whereas Bouygues has gained 2 percent.
Dassault Systemes plunged more than 19 percent amidst a disappointing earnings report. Capgemini as well as Publicis Groupe have declined more than 4 percent. Kering also shed 3.4 percent.
Aligning with the weak global trend, bond yields in France have edged down. Yields on France's 10-year bonds dropped 0.03 percent to 3.400 percent, versus the level of 3.401 percent at the previous close. Yields ranged between 3.415 percent and 3.387 percent.
Amidst anxiety about the looming job market update on the Federal Reserve's monetary policy strategy, the dollar has weakened, dragging the six-currency Dollar Index by 0.23 percent to 96.58. Amidst the dollar's decline, the EUR/USD pair has gained 0.17 percent to 1.1914. The pair ranged between 1.1928 and 1.1886. The EUR/GBP pair is trading at 0.8696, slipping 0.24 percent from the flatline. With the yen strengthening, the EUR/JPY pair has plunged 0.50 percent to trade at 182.72.
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