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Tom Weller/voigt | Getty Images Sport | Getty ImagesTime is running out on the so-called "Olympic political truce" declared by French President Emmanuel Macron in late July, pushing the country's rocky political landscape back into focus. The left-wing New Popular Front alliance won the highest number of seats and prevented a much-discussed victory for the far-right National Rally. Meanwhile, Macron's own politics and allied government have been "widely rejected by the French," Massoc added, and no party will form an alliance with far-right National Rally. Even within the leftist grouping, parties are divided and some will refuse any sort of alliance with centrists, she said. Under the French political system, the parliament has relatively little power and between 2017 and 2022, 65% of texts adopted were laws proposed by the government rather than parliament, Massoc noted.
Persons: Emmanuel Macron, Tom Weller, voigt, Macron, , tussles, Gabriel Attal, Lucie Castets, Elsa Clara Massoc, Gallen, Castets, Massoc, Les, Renaud Foucart Organizations: Stade de France, Olympic Games, Getty, Paris, Front, New Popular, National Assembly, University of St, CNBC, centrists, CAC, Lancaster University Locations: France, Paris,
LONDON — European stocks are expected to open higher Wednesday as investors in the region await key inflation prints from the U.S. and U.K. U.K. inflation data out on Wednesday will be the first print since the Bank of England cut interest rates by 25 basis points last month. After two months at 2%, economists polled by Reuters expect the headline inflation rate to tick higher, to 2.3%. Money markets are currently pricing in a high probability of more interest rate cuts by the BoE, amounting to 50 basis points this year. The central bank's key rate currently sits at 5%.
Persons: Germany's DAX, BoE Organizations: New Oxford, LONDON, CAC, IG, Bank of England, Reuters Locations: London, U.S
LONDON — European stocks are expected to open higher Tuesday, regaining some positive momentum after last week's volatility. The U.K.'s FTSE index is seen opening 26 points higher at 8,233, Germany's DAX up 18 points at 17,288, France's CAC 40 up 14 points at 7,259 and Italy's FTSE MIB 62 points higher at 32,084, according to data from IG. European stocks closed mixed on Monday as forthcoming U.S. and U.K. inflation data dominated investor attention. U.K. wage data released by the Office for National Statistics on Tuesday showed that pay excluding bonuses grew 5.4% year-on-year between April and June — the lowest rate in two years. U.K. inflation data, due on Wednesday, will be the first print since the BOE cut interest rates by 25 basis points.
Persons: Germany's DAX, Jack Kennedy, BOE Organizations: LONDON, CAC, IG, Office, National Statistics, Reuters, Bank of England, U.S Locations: France, Spain, Italy
LONDON — European stocks are expected to rally at the start of the new trading week, with global markets keeping a close eye on U.S. inflation data out Wednesday. European markets are set to follow in the footsteps of their counterparts in Asia-Pacific, where markets were mostly higher overnight. The rally comes after global stock markets see-sawed last week with steep sell-offs followed by a sharp rebound. U.S. stock futures were lower as investors awaited key inflation data due later this week. In focus is the U.S. producer price index report for July, out Tuesday, followed by the country's latest consumer price index data on Wednesday, with investors looking for signs that price growth is stabilizing.
Persons: Germany's DAX Organizations: CAC, IG Locations: Asia, Pacific, U.S
Meanwhile, the yen strengthened 0.6% to 146 against the US dollar, after losing nearly 2% on Tuesday and Wednesday combined. But those fears, as well as a further jump in the value of the yen, are still haunting the market. The volatility in the yen, which was at the heart of recent market turmoil, remains elevated, he added. On Monday, the Nikkei plummeted by the most since 1987, sparking a broader global market sell-off. The narrowing of the interest rate differentials, which had enabled the yen carry trade, could push the yen higher, Kuptiskevich added.
Persons: Hong Kong CNN —, Germany’s DAX, Shinichi Uchida, Uchida, , Stephen Innes, Alex Kuptsikevich, Masamichi Adachi, Innes, Taiwan’s Taiex, Hang Organizations: Hong Kong CNN, Nikkei, CAC, Nasdaq, Bank of Japan, Federal Reserve, FxPro, Federal, Fed, UBS, UBS Chief Investment, Kospi, Hang Seng Locations: Hong Kong, Europe, Japan, unwind
LONDON — European stocks are expected to open higher Tuesday, with global markets looking set to rally after widespread volatility on Monday. On Tuesday, the U.K.'s FTSE index is expected to open 53 points higher at 8,049, Germany's DAX up 122 points at 17,436, France's CAC 40 up 48 points at 7,180 and Italy's FTSE MIB 170 points higher at 31,615, according to data from IG. European stocks fell sharply Monday, with the regional Stoxx 600 index plunging 3.5% and tech and bank stocks declining sharply.
Persons: Germany's DAX Organizations: CAC, IG
Stock market numbers are displayed on a screen at the New York Stock Exchange during afternoon trading on August 02, 2024 in New York City. LONDON — European stocks are expected to start the new trading week in flat to negative territory as global volatility continues. The U.K.'s FTSE index is seen opening 3 points higher at 8,165 while Germany's DAX is expected to open 59 points lower at 17,591, France's CAC 40 down 17 points at 7,219 and Italy's FTSE MIB down 139 points at 32,009, according to data from IG. The subdued start for major European markets comes amid wider global volatility; U.S. stock futures fell Sunday night following a turbulent last week for Wall Street, in which the Nasdaq Composite dropped into correction territory. Asia-Pacific markets also continued the selloff overnight.
Persons: Germany's DAX Organizations: New York Stock Exchange, LONDON, CAC, IG, Wall, Nasdaq Locations: New York City, Asia, Pacific
The market sell-off spills over into a global one
  + stars: | 2024-08-02 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Thursday's sell-off spilled over to international markets in a big way. .N225 5D mountain Nikkei sells off The Nikkei 225 , Japan's stock market benchmark, plunged 5.8% — marking its biggest one-day loss since March 2020. The common thread behind these declines seems to be concern that a U.S. economic slowdown would hurt global growth. Elsewhere on Wall Street this morning, Wells Fargo downgraded Morgan Stanley to underweight from equal weight, citing worries around the stock's valuation. "Further, MS doesn't seem to benefit as much from a capital markets recovery as GS, but trades at a significant valuation premium."
Persons: Thursday's, Taiwan's Taiex, Dax, That's, Adam Crisafulli, Jerome Powell, Wells, Morgan Stanley, Mike Mayo Organizations: Dow Jones Industrial, Nikkei, CAC, Intel, Dow Jones, Dow, Federal Locations: U.S, Asia, Europe, That's, Thurs
Boris Roessler | Picture Alliance | Getty ImagesLONDON — European stocks were set to open lower Friday, extending losses amid a global downturn as a busy week of market action draws to a close. Germany's DAX was on course to open 104 points lower at 17,984, according to IG data, with France's CAC 40 down 40 points at 7,325. The regional Stoxx 600 index on Thursday suffered its worst session since mid-June, pulled down by financials as French bank Societe Generale downgraded its outlook and the Bank of England cut interest rates for the first time since 2020. The central bank decision took its key interest rate to 5% from 5.25%, in a move that markets had not been fully convinced it would carry out. Asia-Pacific markets saw steep losses Friday, with Japan's benchmark indexes tanking as much as 5%.
Persons: Boris Roessler, Germany's DAX, BOE Governor Andrew Bailey, BOE, Joe Tuckey Organizations: Getty, France's CAC, Societe Generale, Bank of England, CNBC, Argentex, U.S . Federal Reserve, Bank of, Apple, Intel, U.S . Bureau of Labor Statistics Locations: Frankfurt, Bank of Japan, Europe, Asia, Pacific
LONDON — European markets are set to open mixed on Thursday as investors process a raft of central bank action. The Bank of England announces its latest monetary policy decision at midday London time. Market pricing slightly favors a 25 basis point interest rate cut from the U.K. central bank, kicking off its path of monetary easing. Investors are still processing Wednesday's surprise move from the Bank of Japan, which raised its benchmark interest rate to around 0.25%, its highest level since 2008, and hinted at more tightening to come. The decision powered the yen to a four-and-a-half month high against the U.S. dollar, as Japanese stocks tumbled.
Persons: Germany's DAX, Jerome Powell, Powell Organizations: CAC, Bank of England, U.S, Bank of Japan, U.S . Locations: U.S . Federal,
LONDON — European markets are set to see a mixed start to Tuesday, as earnings continue to dominate stock action and investors brace for U.K. and U.S. central bank decisions. The U.K.'s FTSE 100 index is seen slipping just below the flatline, according to IG data, while France's CAC 40 and Germany's DAX rise just 8 and 21 points, respectively. U.K. bank Standard Chartered announced its biggest-ever share buyback, of $1.5 billion, as it raised its outlook in half-year results. Oil major BP hiked its dividend as it beat second-quarter earnings estimates.
Persons: Germany's DAX Organizations: CAC, Chartered Locations: U.S
The Unilever headquarter building seen by the Nieuwe Maas river in Rotterdam. LONDON — European markets are heading for a lower open Thursday, with a flurry of corporate earnings and a selloff on Wall Street in focus. The U.K.'s FTSE 100 was last seen opening 19 points lower at 8,132 points, according to IG data, with Germany's DAX and France's CAC 40 down by 80 points and 45 points, respectively. The pan-European Stoxx 600 index closed 0.6% lower on Wednesday as second-quarter earnings season ramped up. Data will be released on German consumer confidence and euro zone and U.K. business activity, ahead of next week's euro zone gross domestic product second-quarter print.
Persons: Germany's DAX, carmakers Stellantis, Roche Organizations: Unilever, LONDON, CAC, MIB, Nestle, carmakers, Renault, Nasdaq, Deutsche Bank, Nikkei, U.S, Reuters, Bank of Locations: Rotterdam, Swiss, U.S, Asia, Pacific, Bank of Japan
LONDON — European markets are set to open lower on Wednesday as earnings season ramps up. The U.K.'s FTSE 100 was last expected to open 25 points lower at 8,137, while Germany's DAX was set to shed 76 points to 18,472 and France's CAC 40 was expected to open 54 points lower at 7,540. Italy's MIB index was set to to open 62 points lower at 34,799. Deutsche Bank , UniCredit, BNP Paribas and Banco Santander are among the European banks reporting earnings on Wednesday, alongside Easyjet , Iberdrola and Orange. On the data front, flash purchasing managers' index data is due to be released in the U.K. and the euro zone.
Persons: Germany's DAX, Easyjet Organizations: Citigroup Inc, State Street Corp, Barclays Plc, HSBC Holdings Plc, CAC, Deutsche Bank, BNP, Banco Santander Locations: Wharf, UniCredit, Iberdrola, Orange, Germany
A consumer selects vegetables at a supermarket on March 12, 2024 in Berlin, Germany. LONDON — European stocks are expected to open in mixed territory on Tuesday as investors await the latest earnings reports from regional companies. The U.K.'s FTSE index is expected to open 12 points lower at 8,192, Germany's DAX up 76 points at 18,490, France's CAC 40 up 18 points at 7,639 and Italy's FTSE MIB up 122 points at 34,984, according to data from IG. European markets will be assessing the latest earnings from Givaudan, Thales, Alstom, Norsk Hydro, AkzoNobel, Banco de Sabadell, Randstad, Enagas and LVMH on Tuesday. Hungary will announce its latest interest rate decision and data releases include Dutch and Irish consumer confidence figures.
Persons: Germany's DAX Organizations: LONDON, CAC, IG, Thales, Alstom, Norsk Hydro, Banco, Banco de Sabadell Locations: Berlin, Germany, Givaudan, AkzoNobel, Banco de, Randstad, LVMH, Hungary
In this photo illustration showing a screen, current US President Joe Biden is seen speaking from the Roosevelt Room of the White House in Washington. President Biden and Vice President Harris held a briefing to discuss the incident and express support for Donald Trump. LONDON — European stocks are expected to open higher as global markets react to the news that U.S. President Joe Biden had dropped out of the U.S. presidential race. The U.K.'s FTSE index is seen opening 24 points higher at 8,163, Germany's DAX up 9 points at 18,166, France's CAC 40 up 18 points at 7,538 and Italy's FTSE MIB 21 points higher at 34,338, according to data from IG. Global traders are watching the U.S. political landscape closely after Biden dropped out of the presidential race on Sunday and endorsed Vice President Kamala Harris as the Democratic nominee.
Persons: Joe Biden, Roosevelt, Biden, Harris, Donald Trump, Germany's DAX, Kamala Harris Organizations: White, LONDON, U.S, CAC, IG, Global, Democratic Locations: Washington
AI companies in China are undergoing a government review of their large language models, aimed at ensuring they "embody core socialist values," according to a report by the Financial Times. The review is being carried out by the Cyberspace Administration of China (CAC), the government's chief internet regulator, and will cover players across the spectrum, from tech giants like ByteDance and Alibaba to small startups. AI models will be tested by local CAC officials for their responses to a variety of questions, many related to politically sensitive topics and Chinese President Xi Jinping, FT said. An anonymous source from a Hangzhou-based AI company who spoke with the FT said that their model didn't pass the first round of testing for unclear reasons. They only passed the second time after months of "guessing and adjusting," they said in the report.
Persons: Xi Jinping Organizations: Financial Times, Cyberspace Administration of China, CAC, U.S Locations: China, Hangzhou, Beijing
The U.K.'s FTSE 100 was last seen up 40 points at 8,231, Germany's DAX 15 points higher at 18,464 and France's CAC up 7 points at 7,590. LONDON — European markets were headed for a higher open on Thursday as investors awaited the European Central Bank's interest rate decision. Asia-Pacific markets tumbled on the news from the chip sector overnight, with Japan's Nikkei 225 declining more than 2%. Back in Europe, the European Central Bank is expected to announce its latest interest rate decision Thursday. Markets are widely expecting the central bank to leave rates unchanged, but investors are hoping for guidance on the path ahead for monetary policy.
Persons: Boris Roessler, Germany's DAX Organizations: Getty, CAC, MIB, LONDON, Tech, Japan's Nikkei, Nasdaq, European Central Bank, Novartis, Volvo, Ubisoft, Nokia Locations: Hesse, Frankfurt, U.S, Asia, Pacific, Europe
U.S. Federal Reserve Chair Jerome Powell speaks at a news conference on interest rates, the economy and monetary policy actions on June 15, 2022. LONDON — European stocks are expected to open in mixed territory Tuesday as investors assess the economic and political outlook in the region and beyond. The U.K.'s FTSE index is seen opening 15 points lower at 8,164, Germany's DAX down 19 points at 18,580, France's CAC 40 up 7 points at 7,633 and Italy's FTSE MIB down 31 points at 34,493, according to data from IG. Global markets are digesting dovish comments from U.S. Federal Reserve Chair Jerome Powell in which he said the central bank will not wait until inflation hits 2% to cut interest rates, as the Fed's policy works with "long and variable lags." So, "if you wait until inflation gets all the way down to 2%, you've probably waited too long," he said Monday.
Persons: Jerome Powell, Germany's DAX, you've Organizations: Federal, LONDON, CAC, IG, Global, U.S . Federal Locations: U.S
LONDON — European stocks are expected to start the week lower as global markets assess the impact an assassination attempt on former U.S. President Donald Trump at a rally over the weekend. The U.K.'s FTSE index is seen opening 14 points lower at 8,239, Germany's DAX down 55 points at 18,711, France's CAC 40 down 27 points at 7,706 and Italy's FTSE MIB down 92 points at 34,645, according to data from IG. European stocks are set to follow the trend set in Asia-Pacific overnight, where markets mostly fell as China's gross domestic product data missed expectations and as investors also assessed the impact of the assassination attempt on Trump. President Joe Biden addressed the nation from the White House on Sunday and condemned all political violence and called for unity. Meanwhile, Trump has said his speech at the Republican National Convention will now focus on national unity, instead of targeting Joe Biden's policies.
Persons: Donald Trump, Germany's DAX, Joe Biden, Trump, Joe Biden's Organizations: CAC, IG, Trump, White, Republican National Convention, House Locations: Asia, Pacific
Skyscrapers in the La Defense business and financial district in Paris, France, on Monday, June 3, 2024. LONDON — European stocks are set to nudge higher at Friday's open, defying a broader global selloff, with fresh inflation data set to land. Reaction to the historic French and U.K. elections dominated the start of the week, but attention has moved to a flurry of inflation data. On Thursday, the U.S. consumer price index declined more than expected to 3% annually, down from 3.3% in May. The data will be followed up by the U.S. producer price index Friday, while German, French and Italian inflation readings will also be released.
Persons: Germany's DAX, Jerome Powell Organizations: La Defense, LONDON, MIB, CAC, Federal Locations: Paris, France, U.S
The UK economy has reportedly seen faster growth than initially estimated in early 2024. LONDON — European stocks are expected to open higher Thursday as global markets look ahead to the next U.S. inflation reading. Thursday's inflation report could cement expectations that the U.S. Federal Reserve will cut interest rates in the coming months. Recent economic releases have suggested that inflation and economic growth are both cooling, including last week's report that unemployment in June ticked up to 4.1%. The consumer price index report for June will be released at 8:30 a.m.
Persons: Germany's DAX Organizations: City of, LONDON, CAC, IG, U.S . Federal Locations: Bishopsgate, City, City of London
Liverpool Street train station beneath the new skyline of skyscrapers in the City of London financial district on 14th February 2022 in London, United Kingdom. LONDON — European stocks are expected to open higher Wednesday as concerns over the political outlook in France subside. France's CAC 40 index closed 1.81% lower Tuesday as traders assessed the implications of a hung parliament and a period of political uncertainty in France. Asia-Pacific markets were mixed overnight, even as key Wall Street benchmarks rose following dovish comments from U.S. Federal Reserve Chairman Jerome Powell Tuesday. U.S. stock futures were little changed in overnight trading Tuesday after the S&P 500 notched a fresh record close.
Persons: Germany's DAX, Emmanuel Macron, Jerome Powell, Powell Organizations: Liverpool, LONDON, CAC, IG, Front, NFP, U.S . Federal, National Grid Locations: City, London, United Kingdom, France, Asia, Pacific, U.S, Wetherspoons
Brands have turned away from relying solely on Meta and are using many different platforms to acquire new customers, including relatively new channels like TikTok. Measured's data shows that Snap is the cheapest channel for brands to acquire customers. On TikTok, it costs brands $139.58 to acquire a customer, while Meta nets out to $83.16. Forty-seven percent of advertisers bought TikTok ads, and 5% of brands invested in Reddit ads to find customers. AdvertisementWhile Meta, Pinterest, and TikTok get more of Measured's clients to spend, the data suggests that Snap could be an overlooked channel for brands, as it has low acquisition costs.
Persons: , Warby Parker, Glossier, it's, that's, Brett Bardsley, Clay Cohen, Bardsley, TikTok, Eva Hart Organizations: Service, Facebook, Business, Brands, CAC, CPO, Jungle, Advertising Research
People gather to celebrate the victory of the left-wing union after the partial results of the second round of the French parliamentary elections in Paris, France on July 07, 2024. LONDON — European stocks are expected to open in mixed territory Tuesday as investors in the region weigh up political uncertainty in France after Sunday's election result. European markets are digesting the prospect of a prolonged period of political uncertainty in France as it confronts a hung parliament following Sunday's parliamentary election result. The left-wing New Popular Front won the largest number of seats in the final round of voting, scuppering an expected surge for the far-right. The alliance failed to secure an absolute majority, however, meaning a coalition or technocratic government is on the cards, making legislation and reforms harder to pass.
Persons: Germany's DAX, scuppering Organizations: LONDON, CAC, IG, Popular Front Locations: Paris, France
LONDON — European stocks were set to fall at the open on Monday as markets reacted to an expected hung parliament in France after a surprise win for a left-wing coalition of parties. France's CAC 40 was seen falling 37.9 points to 7,631, according to IG, and the euro was down 0.18% against the dollar. The U.K.'s FTSE 100 index and Germany's DAX are both expected to fall around 6 points, while Italy's FTSE MIB is expected to slip 115 points at the open. European marketsFrance's left-wing New Popular Front won the largest number of seats in this weekend's parliamentary elections, scuppering an expected surge for the far-right. However, the coalition failed to secure an absolute majority, early data showed, leaving markets digesting the possibility of a hung parliament.
Persons: Germany's DAX, France's, scuppering, Jim Reid, Nathan Posner Organizations: CAC, IG, Popular Front, Deutsche Bank, New, Republique, Anadolu, Getty Locations: France, Paris, France's
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