CAC 40 Gains After GDP Data
(RTTNews) - French stocks traded higher on Tuesday after data showed France's economy expanded modestly in the third quarter.
Gross domestic product grew 0.1 percent sequentially in the third quarter, first estimate from the statistical office INSEE showed - coming in line with expectations. The strength in household spending and investment were mostly offset by falling exports.
The International Monetary Fund forecast France GDP to grow 1.0 percent this year driven by the catch-up in industrial production and the outperformance of external demand in the first half of 2023.
The benchmark CAC 40 was up 44 points, or 0.6 percent, at 6,868 after rising 0.4 percent the previous day.
Thales tumbled 3 percent after the defence electronics maker said its order intake for the period ending 30 September 2023 fell 18 percent on an organic basis.
Construction-to-telecoms conglomerate Bouygues soared 5 percent after posting solid nine-month results and confirming FY23 outlook.
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