CAC 40 Rises To Over 7-month High

(RTTNews) - French stocks are notably higher Friday morning with investors digesting French and Eurozone PMI data, and reacting positively to U.S. President Donald Trump's comments calling for lower lower interest rates. Slightly easing worries about tariff threats contribute as well to the positive sentiment in the market.

The benchmark CAC 40 was up 80.91 points or 1.03% at 7,973.52, a more than 7-month high.

Among the major gainers, luxury stock Kering is rising nearly 9%, hitting a four-month high in the process. LVMH and L'Oreal are gaining about 3%.

ArcelorMittal is up 3.7% and Pernod Ricard is advancing 3.5%, while Renault, Stellantis, Hermes International, Capgemini and Accor are up 1.6 to 2.6%. Air Liquide, BNP Paribas, Saint-Gobain, Vivendi and Carrefour are gaining 1 to 1.2%.

Eurofins Scientific, Danone, Engie, Thales and Safran are exhibiting some weakness.

Data from S&P Global said the HCOB France Composite PMI edged up to 48.3 in January 2025, from December's 47.5 and above market forecasts of 47.7, according to preliminary estimates.

The HCOB Flash France Manufacturing PMI increased to 45.3 in January 2024, up from 41.9 in December, according to preliminary estimates. The latest reading marked the softest contraction in the French manufacturing sector since last June. The HCOB France Services PMI dropped to 48.9 in January 2025, down from 49.3 in December 2024.

The HCOB Eurozone Composite PMI rose to 50.2 in January of 2025 from 49.6 in the previous month. That was higher than the forecast for a 49.7 score. The HCOB Flash Eurozone Manufacturing PMI rose to 46.1 in January 2025 from 45.1 in December, while the Services PMI edged down to 51.4 in January, from 51.6 a month earlier.