CAC 40 Extends Gains On Hopes Of Fed Easing
(RTTNews) - French stocks rose on Friday to extend gains from the previous session as softer-than-expected U.S. inflation data fueled hopes the Federal Reserve will ease up on its interest-rate increases in the coming months.
Sentiment was also underpinned after China cut quarantine restrictions for inbound travelers and flights.
Authorities also removed a penalty for airlines for bringing in too many cases. The loosening of curbs came, a day after President Xi Jinping led his new Politburo Standing Committee in a meeting on COVID.
The benchmark CAC 40 was up 71 points, or 1.1 percent, at 6,628 after surging 2 percent the previous day.
China-exposed luxury giants were moving higher, with Kering, Pernod Ricard and Hermes International climbing 2-3 percent.
FTSE 100 Flat In Lackluster Trade; Bank Stocks Drifting Lower
CAC 40 Advances After Recent Losses
DAX Remains Weak Despite Paring Some Early Losses
Mixed Sentiment In Asian Markets
Euro Falls Against Majors
U.S. Dollar Rises Against Majors
German GfK Consumer Confidence To Fall Further
