CAC 40 Subdued On Rate Hike Jitters
(RTTNews) - French stocks were little changed in cautious trade on Wednesday, a day after Federal Reserve Chair Jerome Powell flagged sharper rate hikes to rein in stubbornly high inflation depending on incoming data.
It is now believed that the Fed would revert to a 50-basis point rate hike at the March 21-22 policy meeting instead of 25 bps expected earlier.
The dollar climbed to three-month highs and the U.S. yield curve inverted further, denting demand for riskier assets.
The benchmark CAC 40 was marginally lower at 7,332 after declining half a percent the previous day.
Aerospace and defense company Thales Group tumbled 3 percent despite posting higher earnings and sales for 2022.
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Swiss Market Ends On Firm Note
The Switzerland market ended on a strong note on Monday after holding firm right through the day's session thanks to sustained buying at several counters.
Despite lingering concerns about geopolitical tensions and elevated oil prices, the mood in the Swiss market remained quite positive.
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57 minutes ago
European Stocks Close Weak; UK Market Bucks Trend
European stocks closed weak on Monday amid concerns about rising oil prices and geopolitical tensions.
A sell-off in the tech sector following warnings of a potentially large-scale AI-driven cyberattacks hurt the markets.
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1h 13min ago
Canadian Market Edges Higher On Energy Boost
Canadian market's benchmark S&P/TSX Composite Index was modestly higher a little before noon on Monday with investors digesting the nation's inflation data and assessing the potential economic impact of elevated oil prices.
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3h 29min ago
Bay Street Likely To Open Weak; Inflation Data In Focus
Canadian stocks look headed for a weak start on Monday as selling is likely in the materials and technology sectors due to weak precious metals prices and warning of potentially large-scale AI-driven cyberattacks, respectively.
Energy stocks may find support as oil prices are up sharply on supply concerns.
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6h 54min ago
Asian Markets Weighed By AI Worries, Crude Oil Price Spike
Renewed worries about the development of Artificial Intelligence and the call by AI leaders to slowdown the pace of AI development dampened sentiment across Asian markets. The spike in crude oil prices as well as worries about inflation also weighed on market sentiment ahead of interest rate decisions by the Federal Reserve and Bank of Japan.
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7h 27min ago
FTSE Climbs Higher On Pharma, Energy Strength
London's benchmark index advanced 69.78 points to 10,720.22 on Monday, boosted by buying in pharmaceuticals, energy, and heavyweight counters. Sage Group climbed over 6%, while losses in mining and financial sectors limited the market's upside potential.
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7h 39min ago
CAC 40 Slides 0.65% On Oil Surge, Tech Selloff
The CAC 40 fell 52.79 points to 8,126.98 Monday, pressured by surging crude prices and warnings of large-scale AI-driven cyberattacks in the tech sector. Geopolitical tensions and central bank meeting caution also contributed.
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8h 8min ago
German Stocks Retreat Amid Geopolitical Oil Tensions, AI Warnings
German equities declined Monday following Saudi pipeline attacks and AI risk warnings from industry executives. Rising oil prices and monetary policy anticipation added to market headwinds affecting multiple sectors.
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9h 3min ago
