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CAC 40 Gains As Bond Yields Slide
(RTTNews) - French stocks rose sharply on Tuesday and bond yields declined as markets held out hopes that the U.S. Federal Reserve will soften its hawkish stance after delivering a widely expected 75-bps rate hike on Wednesday.
Yields in the 10-year Bund were close to levels seen right before last week's European Central Bank gathering while the 10-year U.S. Treasury yields dropped 8 basis points (bps) to 3.99 percent.
The benchmark CAC 40 jumped 111 points, or 1.8 percent, to 6,378 after closing 0.1 percent lower on Monday.
TotalEnergies shares rose nearly 3 percent, tracking higher oil prices after OPEC raised its forecasts for world oil demand in the medium- and longer-term in an annual outlook released on Monday.
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Canadian Dollar Eases Against Most Majors
The Canadian dollar retreated against its most major counterparts in the New York session on Friday.
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Swiss Market Ends Sharply Lower
The Switzerland market closed weak on Friday, tracking weak global cues after U.S. President Donald Trump's latest tariff moves raised fears of a global trade war.
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European Stocks Close Weak As Trade War Fears Hurt Sentiment
European stocks closed lower on Friday as trade war fears resurfaced after U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners.
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Canadian Market Remains Weak On Tariff Concerns
After a weak start and a subsequent drop to lower levels, the Canadian market continues to languish in negative territory a little past noon on Friday. The mood is cautious amid escalating trade war fears following U.S. President Donald Trump announced a 35% tariff on all non-USMCA Canadian imports, effective August 1.
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Bay Street Likely To Open Lower
Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
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Pound Falls As U.K. Economy Contracts For Second Straight Month
The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
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Wall Street Likely To Open On Weak Note
Lower futures and escalating fears of a global trade war point to a weak start for U.S. stocks Friday morning.
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Pound Falls Against Majors
The British pound weakened against other major currencies in the European session on Friday.
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