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French Market In Negative Territory

The French market is slightly lower in afternoon trading Wednesday, reversing early gains that stemmed from additional stimulus announcement in Japan. The Asian markets ended in positive territory and the U.S. index futures are higher.

The Bank of Japan embarked on a powerful monetary easing by expanding the total size of the asset purchase program by about 10 trillion yen and extending the asset purchase deadline by six months.

The minutes of the Bank of England's policy meeting held on September 5 and 6 showed that policymakers unanimously decided to maintain quantitative easing at 375 billion pounds and the interest rate unchanged at 0.50 percent.

The Euro Stoxx 50 index of eurozone bluechip stocks is losing 0.07 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is rising 0.17 percent.

The CAC 40 index turned weaker over the course of trading and is currently down 0.08 percent.

Lenders Credit Agricole, Societe Generale and BNP Paribas are declining around 2.3 percent each. Insurer Axa is losing 1.5 percent.

Bouygues is dropping 1.4 percent and peer Vinci is falling 0.6 percent. HSBC cut Bouygues to "Neutral" from "Overweight," while initiating Vinci with a "Neutral" rating.

Michelin raised its adjusted earnings guidance for 2015 to 2.9 billion euros from its previous target of 2.5 billion euros. The stock is gaining 0.2 percent.

Vivendi is rising 1.5 percent. Carmaker Renault is advancing 1.1 percent and Peugeot is gaining 0.4 percent.

Elsewhere in Europe, the German DAX is losing 0.05 percent. Switzerland's SMI is rising 0.10 percent and the UK's FTSE 100 is gaining 0.04 percent.

Across Asia/Pacific, Australia's All Ordinaries added 0.5 percent and China's Shanghai Composite Index gained 0.40 percent. Hong Kong's Hang Seng and Japan's Nikkei 225 climbed 1.2 percent each.

In the U.S., futures point to a higher open on Wall Street. In the previous session, the major averages eventually ended the day mixed, although they were all nearly flat. While the Dow inched up 0.1 percent, the Nasdaq edged down 0.03 percent and the S&P 500 slipped 0.1 percent.

In the commodity space, crude for October delivery is losing $0.23 to $95.06 per barrel and December gold is rising $4.9 to $1776.1 a troy ounce.

by RTT Staff Writer

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