CAC 40 Climbs To Six-month High; Stellantis, WorldLine Post Strong Gains
(RTTNews) - French stocks are up firmly in positive territory on Thursday, and the benchmark CAC 40 has climbed to a six-month high, thanks to some strong buying in technology and auto sectors.
Easing concerns about a partial government shutdown in the U.S., and expectations of interest rate cuts from the Federal Reserve help underpin sentiment.
The benchmark CAC 40 was up 93.57 points or 1.17% at 8,060.52 a few minutes ago.
Stellantis is rising 7.1% after stronger than expected U.S. sales figures helped ease concerns that tariffs might dent demand. Meanwhile, Morgan Stanley said the carmaker is showing a long-awaited turnaround in market share, with U.S. sales momentum strengthening in September.
Thales is up 4.2% and LVMH is gaining 3.1%. Renault, Dassault Systemes, Schneider Electric, Hermes International, STMicroElectronics, Safran, Bouygues, Airbus, Legrand, Kering and L'Oreal are up 1.4 to 2.7%.
Capgemini, Michelin, Societe Generale, EssilorLuxottica, Carrefour and Accor are also up with impressive gains.
Worldline shares are up with a sharp gain of 9.3% despite coming off earlier high. The global payment services provider has entered into a strategic partnership with YeePay, a Chinese payment provider in the airline and travel sector.
Orange is drifting down by more than 2%. Euronext and Engie are down 0.9% and 0.8%, respectively.
In economic news, data from Eurostat showed the Euro Area seasonably adjusted unemployment rate edged up to 6.3% in August, from an all-time low of 6.2% in July.
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