CAC 40 Gains As Macron Prepares To Appoint New PM

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CAC 40 Gains As Macron Prepares To Appoint New PM

(RTTNews) - French stocks eked out modest gains on Thursday as investors wait for President Emmanuel Macron to appoint a new prime minister.

Macron is seeking a political deal that would allow him to both name a new prime minister and "guarantee the stability of the country," a spokesperson for the outgoing government said Wednesday and insisted there was at the moment no "broader" political alliance than the current one between his centrist allies and conservatives from the Republicans party.

Investors also seek direction from a European Central Bank rate decision later in the day.

The benchmark CAC 40 was up 12 points, or 0.2 percent, at 7,435 after closing 0.4 percent higher on Wednesday.

In corporate news, semiconductor company STMicroelectronics rose about 1 percent after forging a strategic collaboration with Quobly, a French quantum computing startup.

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Swiss Market Fails To Hold Early Gains, Ends Weak

Swiss Market Fails To Hold Early Gains, Ends Weak

Despite spending much of the day's trading session in positive territory, the Switzerland market ended on a weak note on Tuesday as fears of a trade war rendered the mood a bit bearish.
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European Stocks Close Lower On Trade Concerns, U.S. Inflation Data

European Stocks Close Lower On Trade Concerns, U.S. Inflation Data

European stocks closed lower on Tuesday, extending recent losses, despite some optimism about the European Union striking a trade deal with the U.S. in the coming weeks. Data showing an acceleration in U.S. inflation in the month of June hurt sentiment.
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New York Manufacturing Index Unexpectedly Indicates Growth In July

New York Manufacturing Index Unexpectedly Indicates Growth In July

New York manufacturing activity has seen a notable turnaround in the month of July, according to a report released by the Federal Reserve Bank of New York on Tuesday. The New York Fed said its general business conditions index surged to a positive 5.5 in July from a negative 16.0 in June, with a positive reading indicating growth. Economists had expected the index to rise to a negative 10.0.
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U.S. Consumer Prices Rise 0.3% In June, In Line With Estimates

U.S. Consumer Prices Rise 0.3% In June, In Line With Estimates

The Labor Department released a report on Tuesday showing consumer prices in the U.S. increased in line with economist estimates in the month of June. The report said the consumer price index rose by 0.3 percent in June after inching up by 0.1 percent in May.
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Bay Street Likely To Open On Flat To Slightly Positive Note

Bay Street Likely To Open On Flat To Slightly Positive Note

The Canadian market may open on a flat to slightly positive note on Tuesday with investors digesting the nation's inflation data, and awaiting earnings updates from big name U.S. banks, due later in the day.
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