CAC 40 Climbs Ahead Of Fed, ECB Meetings
(RTTNews) - French stocks advanced on Monday as investors looked for cues from key central bank meetings due later in the week.
Traders await the Federal Reserve's monetary policy meeting scheduled from 13th June to 14th, with the U.S. central bank expected to pause its recent interest rate increases.
The Fed's accompanying statement as well as U.S. CPI data will be key as investors look for clues about the outlook for rates.
Closer home, analysts expect the European Central Bank to hike rates by 25 bps on Thursday.
The benchmark CAC 40 was up 58 points, or 0.8 percent, at 7,271 after closing 0.1 percent lower on Friday.
Banks climbed, with BNP Paribas and Societe Generale rising around 2 percent each.
Satellite company SES plunged 11 percent after an announcement that its CEO Steve Collar will step down at the end of June 2023 to pursue other professional and personal endeavors.
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