CAC 40 Edges Higher In Cautious Trade
2024-11-07
4849
(fxcue news) - French stocks edged up slightly on Wednesday, after having suffered heavy losses in the previous session amid concerns that Donald Trump's protectionist policies would put upward pressure on inflation and hamper global growth.
The benchmark CAC 40 was up 8 points, or 0.1 percent, at 7,235 after tumbling 2.7 percent the previous day.
Eurozone bond yields pushed higher as investors awaited key U.S. consumer and producer inflation readings this week for hints of a possible Federal Reserve rate cut in December.
Traders are currently pricing in about two Fed rate cuts through June, against almost four seen at the start of last week.
Closer home, official data showed today that France's unemployment rate rose marginally in the third quarter.
The ILO jobless rate rose to 7.4 percent from 7.3 percent in the second quarter. The rate was 7.4 percent in the same period last year and also matched expectations.
Nonetheless, the unemployment rate remained only slightly above its lowest level since 1982. The number of unemployed people increased 35,000 from a quarter ago to 2.3 million, data showed.
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