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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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Canadian Dollar Drops Against Most Majors
The Canadian dollar fell against its most major counterparts in the New York session on Friday.
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Swiss Market Settles Moderately Lower
The Switzerland market ended weak on Friday, in line with markets across Europe, as investors chose to trim down positions at several counters, continuing to react to earnings updates and assessing the developments on the trade front.
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European Markets Close Weak After Cautious Session
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Bay Street May Open On Positive Note
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FTSE 100 Modestly Lower; Bank Stocks Among Notable Losers
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