CAC 40 Retreats On Fed Rate Hike Worries

(RTTNews) - French stocks declined on Thursday after the minutes of last month's Fed meeting, released overnight, quelled hopes of rate-hike cycle ending anytime soon.

The minutes showed that officials are laser-focused on controlling inflation despite mounting economic uncertainties.

The benchmark CAC 40 was down 40 points, or 0.6 percent, at 6,735 after rising 2.3 percent the previous day.

Technip Energies N.V. shares jumped 3.5 percent. The engineering and technology firm said that it has renewed a framework agreement contract for Project Management Consultancy by Kuwait Oil Company (KOC) for another five years.

The first five-year framework agreement was awarded to Technip Energies by KOC in 2014.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.