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France Grinds to a Halt as Unions Lead Mass Strikes Against Austerity

French students block the entrance of a high school in Paris as part of a day of nationwide strikes and protests in France. France faced sweeping disruption on Thursday as hundreds of thousands joined nationwide strikes against government austerity plans. Teachers, train drivers, pharmacists, hospital staff and even high school students walked out, demanding the scrapping of a €44 billion budget-cut package drafted by former prime minister François Bayrou. Public transport was heavily affected, with Paris Metro lines running limited services and regional trains severely reduced. Nine in ten pharmacies closed their doors, while one in three primary school teachers and nearly half of secondary school staff joined the walkout. The protests come amid a political crisis for President Emmanuel Macron and newly appointed Prime Minister Sébastien Lecornu, who has promised compromises but not ruled out key cuts. Authorities deployed 80,000 police and gendarmes nationwide, warning of potentia...
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Markets Surge on Positive U.S. Retail Data


The stock markets opened with a bang today as both the TSX and the S&P 500 reached record highs, buoyed by encouraging U.S. retail data.

The S&P 500 climbed by 1.2%, closing at 5,308.15, while the TSX Composite Index rose by 41.42 points to settle at 22,284.76. This surge was driven by strong performances in the technology and utility sectors, reflecting investor optimism following a favorable U.S. retail sales report.

The U.S. retail data showed a robust increase in consumer spending, which has been a key indicator of economic health. This positive sentiment was further bolstered by lower-than-expected inflation figures, providing a double dose of good news for the markets.

Kathrin Forrest, an equity investment specialist at Capital Group, noted, "It’s been a really constructive day for equities, certainly in North America. The technology sector, in particular, ended the week with a strong rally, led by semiconductor companies".

As investors continue to digest these positive economic indicators, the outlook for the markets remains optimistic. The combination of strong retail sales and manageable inflation suggests a resilient economy, which is likely to keep the markets buoyant in the near term.


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