CAC 40 Slides As PM Barnier Flags Tax Hikes On Wealthy
(RTTNews) - French stocks traded lower on Monday after a survey showed France's services sector contracted sharply in September, following a strong August driven by the Olympic Games.
Investors were also reacting to Prime Minister Michel Barnier's comments that his new government could increase taxes for big business and the wealthiest to help tackle the budget deficit.
The benchmark CAC 40 was down 37 points, or half a percent, at 7,463 after declining 1.5 percent on Friday.
In corporate news, TotalEnergies was marginally lower as it signed a pact to supply up to 1.5 million tons of more sustainable aviation fuel to Air France-KLM over a 10-year period. Shares of the latter were down more than 3 percent.
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European Shares Seen Lower At Open
European stocks may drift lower at open on Thursday, with technology stocks likely to be in focus after the Wall Street Journal reported that SpaceX, Broadcom and Oracle were looking to raise money to buy AI chips, leaving investors worried about whether the expected profits will materialize.
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Australian Market Extends Early Losses In Mid-market
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Asian Markets Track Wall Street Lower
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Rally May Stall For Thai Stock Market
The Thai stock market has tracked higher in five straight sessions, gathering almost 25 points or 1.6 percent in that span. The Stock Exchange of Thailand now sits just above the 1,580-point plateau although it may run out of steam on Thursday.
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Japanese Market Significantly Lower
The Japanese market is trading significantly lower on Thursday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 69,400 level, with weakness in index heavyweights, exporters, financial and technology stocks partially offset by gains in automaker stocks.
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Indonesia Stock Market May Give Up Support At 6,100 Points
The Indonesia stock market on Wednesday snapped the three-day winning streak in which it had improved almost 185 points or 2.8 percent. The Jakarta Composite Index now sits just beneath the 6,150-point plateau and it's likely to open to the downside again on Thursday.
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