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CAC 40 Gains As Fed Worries Ease
(RTTNews) - French stocks rose on Friday to extend gains from the previous session after a survey showed business activity at French service providers expanded in February for the first time since October last year.
Sentiment was also underpinned after a Fed official suggested a measured approach to raising interest rates and a private survey showed China's services sector expanded at the fastest pace in six months in February.
The benchmark CAC 40 was up 38 points, or half a percent, at 7,320 after climbing 0.7 percent on Thursday.
Among the top gainers, BNP Paribas, Capgemini, Credit Agricole, Societe Generale, Veolia, Engie, ArcelorMittal, Renault and STMicroelectronics jumped 1-2 percent.
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Euro Rises Amid Risk-on Mood
The euro strengthened against other major currencies in the European session on Wednesday, as European shares traded higher with French markets outperforming their regional peers, after LVMH, the owner of Louis Vuitton and Christian Dior, unexpectedly returned to sales growth in the third quarter.
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Euro Rises Against Majors
The euro strengthened against other major currencies in the European session on Wednesday.
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The Canadian dollar weakened against most major currencies in the European session on Wednesday.
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The Australian dollar strengthened against other major currencies in the Asian session on Wednesday.
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The U.S. dollar continued to be weaker against other major currencies in the Asian session on Wednesday, following comments made by Federal Reserve (Fed) Chair Jerome Powell that strengthened bets on an interest rate drop this month.
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