CAC 40 Gains On Rate Cut Bets

RTTNews | 735 hari yang lalu
CAC 40 Gains On Rate Cut Bets

(RTTNews) - French stocks traded higher on Wednesday as traders increased bets that the European Central Bank will cut interest rates by another 25 basis points on Oct. 17 due to falling inflation and weak economic activity in the region.

The dollar held onto its big gains in a week as Iran's missile attack on Israel drove the buying of safe-haven assets.

The benchmark CAC 40 was up 45 points, or 0.6 percent, at 7,619 after losing 0.8 percent the previous day.

In corporate news, TotalEnergies jumped 3.4 percent as oil extended an overnight rally on concerns that Middle East tensions could escalate and potentially disrupt crude output from the region.

Also, the company has announced the final investment decision for the GranMorgu development located on offshore Block 58 in the Republic of Suriname with total investment of around $10.5 billion.

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German Industrial Production Rebounds

German Industrial Production Rebounds

Germany's industrial production rebounded in August despite summer heatwave and geopolitical tensions, official data showed Wednesday. Industrial output expanded 2.0 percent on a monthly basis, in contrast to the 1.2 percent decrease in July, Destatis said. Production was expected to grow 0.5 percent.
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Euro Falls Against Majors

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The euro weakened against other major currencies in the European session on Wednesday.
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FTSE 100 Slides On Oil, Bond Yields; Banks Lead Losses

FTSE 100 Slides On Oil, Bond Yields; Banks Lead Losses

The FTSE 100 fell 0.79% Wednesday as higher oil prices and bond yields pressured the index. Bank stocks declined sharply, with Standard Chartered dropping 3.6% and HSBC falling 3.2%. Pennon Group plummeted 17% after announcing a £550 million rights issue and 30% dividend cut.
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Indian Shares Fall After RBI Rate Hike

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Indian shares fell notably on Wednesday after two days of gains amid diminished expectations for another Federal Reserve interest-rate hike in October.
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DAX Slides As Oil Prices, Bond Yields Jump Higher

DAX Slides As Oil Prices, Bond Yields Jump Higher

German equities declined Wednesday as oil prices and bond yields climbed higher, offsetting stronger-than-expected industrial production data. The DAX dropped 335.59 points to 25,113.60. Oil rose above $101 per barrel amid Persian Gulf tensions.
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Gold Declines As Oil And Bond Yields Rise

Gold Declines As Oil And Bond Yields Rise

Gold prices fell toward $4,100 an ounce on Wednesday as oil prices climbed and yields rebounded on fears Iran is stepping up attacks on tankers in the Strait of Hormuz.
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