CAC 40 Dips As Investors Weigh Political Risk
(RTTNews) - French stocks traded slightly lower on Wednesday as investors watched the latest political developments in the country.
The risk premium on French bonds held steady despite lingering worries about the country's debt path and fiscal situation.
National Rally leader Jordan Bardella said he will not become prime minister if his party doesn't get a resounding victory in France's snap election.
Polls indicate Marine Le Pen's party is best placed to become the largest group in the National Assembly, but projections show the party is set to fall short of an outright majority.
The benchmark CAC 40 was down 33 points, or 0.4 percent, at 7,596 after gaining 0.8 percent in the previous session.
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U.S. Dollar Little Changed Following Inflation Data
The value of the U.S. dollar is little changed on Friday following the release of closely watched inflation data that came in line with economist estimates.
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Euro Advances Against Majors
The euro appreciated against its major counterparts in the New York session on Friday.
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Swiss Market Ends Slightly Weak
Despite spending much of the day's trading session in positive territory, the Switzerland market ended marginally down on Friday with a few key stocks turning weak past mid afternoon. Investors digested inflation data from the European region, and a report on U.S. personal consumption expenditure.
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European Stocks Close Weak After Key U.S., European Economic Data
European stocks closed weak on Friday amid political uncertainty ahead of France's upcoming parliamentary elections. Investors also digested inflation data from France and U.K., and a report on U.S. personal consumption expenditure.
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Canadian Stocks Turning In Mixed Performance
Canadian stocks are turning in a mixed performance on Friday with investors digesting the nation's GDP data, and the Personal Consumption Expenditure report from the U.S.
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U.S. Dollar Slides After PCE Inflation Data
The U.S. dollar declined against its major counterparts in the New York session on Friday, as PCE inflation data came in line with economist estimates in May.
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German Unemployment Rises More Than Forecast
Joblessness in German grew more than expected in June and the unemployment rate edged up, preliminary figures from the Federal Labor Agency showed Friday. The seasonally adjusted unemployment grew by 19,000 persons in June following a 25,000 increase in May. Economists had forecast a rise of 15,000.
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U.S. Consumer Sentiment Deteriorates Much Less Than Previously Estimated In June
Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by much less than previously estimated in the month of June. The University of Michigan said the consumer sentiment index for June was upwardly revised to 68.2 from the preliminary reading of 65.6.
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