CAC 40 Down Nearly 1% As U.S.-Iran Tensions Weigh

RTTNews | 140 days ago
CAC 40 Down Nearly 1% As U.S.-Iran Tensions Weigh

(RTTNews) - French stocks drifted lower on Friday amid rising concerns about Middle East tensions. With the Strait of Hormuz remaining effectively closed, oil prices climbed higher, raising worries about inflation and possible monetary tightening by central banks.

Tensions rose after Iran flaunted its tightened grip over the key Strait of Hormuz and U.S. President Donald Trump said he has ordered the Navy to "shoot and kill any boat" that is putting mines in the waters of the Strait of Hormuz.

Trump said the United States is not rushing to resolve the conflict with Iran, describing Iran's leadership as being in turmoil.

According to media reports, Iranian Parliament Speaker Mohammad Bagher Ghalibaf has resigned from U.S. negotiations, signaling a shift toward hardline unity.

The benchmark CAC 40, which drifted down to 8,116.95, was down 76.10 points or 0.91% at 8,151.22 a few minutes ago.

EssilorLuxottica and ArcelorMittal lost 3.4% and 3.3%, respectively. Renault drifted down 3.1% and Stellantis shed about 3%.

Safran fell 2.7% despite strong Q1 revenue and an upbeat full-year outlook.

Capgemini, Thales, Hermes International, Vinci, Airbus, BNP Paribas, Eiffage, Societe Generale, Credit Agricole, Kering, Schneider Electric, Orange and Saint Gobain lost 1%-2.7%.

Bureau Veritas climbed 1.8%. TotalEnergies gained 1.5% and STMicroelectronics moved up 1.35%. Air Liquide and Carrefour posted moderate gains.

read more
TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

The S&P/TSX Composite Index rose 0.36% Friday to 35,634.50 as technology stocks surged 3.5%, contributing significantly to gains. Oil prices fell following International Energy Agency's downward global oil demand forecast revision.
RTTNews | 4h 46min ago
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

The Switzerland stock market closed modestly higher on Friday, in line with markets across Europe, as a sharp drop in oil prices helped lift sentiment.
RTTNews | 5h 20min ago
European Markets Rise As Oil Prices Fall On IEA Demand Cut

European Markets Rise As Oil Prices Fall On IEA Demand Cut

European markets gained ground Friday after the International Energy Agency cut its global oil demand forecast, sending Brent crude futures down 3.5% to $103.50. The IEA now projects world oil demand will drop 2.5 million barrels per day this year versus its prior estimate of 1.6 million bpd.
RTTNews | 5h 43min ago
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index slumped to 47.8 in September after tumbling to 51.7 in August. Economists had expected the index to edge down to 51.0.
RTTNews | 9h 4min ago
CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including more than 2.3 million sour crush candy bottles, motorcycles, six-drawer dressers, dual fuel ranges, hair dryer brushes, and fire spray canisters, among others. In most of the recalls, consumers are urged to immediately stop using the recalled product, and contact the respective firm for either a free repair
RTTNews | 9h 13min ago
U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August, although core prices rose by slightly more than expected. The Labor Department said its consumer price index climbed by 0.4 percent in August after inching up by 0.1 percent in July.
RTTNews | 9h 53min ago