CAC 40 Moderately Higher Amid Easing Trade Tensions
(RTTNews) - Amid easing trade war concerns following a U.S. court ruling against the sweeping tariffs announced by President Donald Trump, French stocks are moving higher on Thursday, recovering well after previous session's weakness.
Stronger-than-expected quarterly results and earnings guidance from U.S. chip maker Nvidia also contribute to the positive mood in the market.
The benchmark CAC was up 47.74 points or 0.71% at 7,835.84 a few minutes ago.
Stellantis is rising nearly 3.5%, and STMicroElectronics is gaining about 3%. Kering, Societe Generale, Edenred and Schneider Electric are up 1.6 to 2%.
Airbus, Hermes International, LVMH, Legrand, Pernod Ricard, AXA, BNP Paribas and Renault are also notably higher.
Thales and Carrefour are down 1.3% and 1%, respectively. Engie, Sanofi, Orange and Danone are modestly lower.
Trump's sweeping tariff plans suffered a setback following the US Court of International Trade in Manhattan ruling that the President had overstepped his authority in imposing the so-called "Liberation Day" import tariffs. The court ordered the tariffs to be vacated and permanently blocked.
The Trump administration has filed an appeal against the federal court ruling.
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