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French Market In Positive Territory

The French market is in positive territory in afternoon trading Wednesday, ahead of the budget presentation in the U.K. The Asian markets were mostly weak on growth concerns about China while the U.S. index futures are higher before a release of the monthly existing home sales data.

The U.K. Chancellor George Osborne is set to unveil the government's budget. Experts expect a budget targeting low and middle-income earning people.

The Euro Stoxx 50 index of eurozone bluechip stocks is gaining 0.10 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is adding 0.10 percent.

The CAC 40 index is adding 0.18 percent.

Cap Gemini is advancing 2.8 percent and Veolia Environnement is rising 1.35 percent.

Vivendi, Safran and Schneider Electric are notably lower.

BNP Paribas is moderately up while Credit Agricole and Societe Generale are flat.

Renault is up 0.7 percent while Peugeot is losing 1.7 percent.

Elsewhere in Europe, the German DAX is advancing 0.27 percent and the UK's FTSE 100 is gaining 0.12 percent. Switzerland's SMI is adding 0.28 percent.

Across Asia/Pacific, markets had a mixed outing. Australia's All Ordinaries lost 0.43 percent and Hong Kong's Hang Seng edged down 0.15 percent. Japan's Nikkei 225 retreated 0.55 percent. China's Shanghai Composite Index, however, added 0.06 percent.

The U.S. futures indicate a slightly higher open on Wall Street. In the previous session, the major averages climbed well off their early lows but still closed in the red. The Dow fell 0.5 percent, the Nasdaq edged down 0.1 percent and the S&P 500 slipped 0.3 percent.

Among commodities, crude for May delivery is adding $0.49 to $106.56 per barrel and April gold is rising $8.6 to $1655.6 a troy ounce.

by RTTNews Staff Writer

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