On Thursday, French stocks experienced a significant decline following the anticipated interest rate cut by the U.S. Federal Reserve. However, the Fed cautioned that rate reductions may not be as forthcoming in 2025 as previously expected.
In a related development, French manufacturers reported stable confidence levels for December. According to new data released by the statistical office INSEE, manufacturing confidence showed consistency with the prior month’s recovery trends.
The manufacturing sentiment index remained at 97 in December, unchanged from November, and lingered below the long-term average of 100. Analysts had anticipated a figure of 96.0.
The survey indicated an improvement in the balances of opinion on order books, although all production-related confidence indicators experienced a decline.
The CAC 40 index, which serves as a crucial benchmark, declined by 61 points or 0.8 percent, closing at 7,323. This fall came after a 0.3 percent increase on Wednesday.
Banks such as BNP Paribas, Credit Agricole, and Societe Generale all saw their shares decrease by approximately 1 percent.
Renault shares, however, rose by 1.2 percent following reports that Foxconn was in discussions with Renault, the largest shareholder of Nissan Motor Co., regarding the potential sale of its stake in the Japanese automaker.
The material has been provided by InstaForex Company -
www.instaforex.com
