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CAC 40 Slides As Fed Flags Lack Of Further Progress On Inflation

2024-06-07MyfxbookMyfxbook
French stocks fell notably on Thursday after the U.S. Federal Reserve said it doesn't plan to cut interest rates until it has "greater confidence" that price increases are slowing.
CAC 40 Slides As Fed Flags Lack Of Further Progress On Inflation

(RTTNews) - French stocks fell notably on Thursday after the U.S. Federal Reserve said it doesn't plan to cut interest rates until it has "greater confidence" that price increases are slowing.

Also weighing on sentiment, the latest HCOB PMI data showed that conditions in the French manufacturing sector continued to deteriorate at the start of the second quarter.

The benchmark CAC 40 was down 67 points, or 0.8 percent, at 7,919 as trading resumed after the May Day holiday.

In corporate news, office services and call center company Teleperformance surged nearly 10 percent after quarterly revenue jumped 26.7 percent, boosted by its acquisition of Dutch rival Majorel completed last year.

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