CAC 40 Edges Higher In Cautious Trade
(RTTNews) - French stocks traded higher on Wednesday even as new data indicated that the French economy might he heading for a contraction in the third quarter.
France's private sector continued to contract in August, flash survey data from S&P Global showed earlier today.
The HCOB composite output index posted 46.6 in August, unchanged from July's 32-month low.
Output volumes across the service sector shrank for the third straight month while manufacturing output extended the decline that has been ongoing since last summer.
The services Purchasing Managers' Index slid to a 30-month low of 46.7 in August from 47.1 in the previous month.
The manufacturing PMI unexpectedly rose to a five-month high of 46.4 in August from 45.1 in July.
The benchmark CAC 40 was up 40 points, or 0.6 percent, at 7,281 after rising 0.6 percent in the previous session.
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