CAC 40 Rises As Eurozone Industrial Output Improves
(RTTNews) - French stocks rose notably on Wednesday as signs of moderating U.S. inflation helped reinforce bets that the Federal Reserve would pause its rate hikes after a two-day policy meeting ending later in the day.
The European Central Bank holds its policy meeting on Thursday, with analysts expecting a 25-bps rate hike to tame stubborn inflation.
In economic releases, Eurozone industrial output rose more than expected in April, helping ease concerns surrounding the economic outlook.
Industrial production rose 1.0 percent in April compared with the previous month after an upwardly revised 3.8 percent fall in March, Eurostat reported.
The benchmark CAC 40 was up 46 points, or 0.6 percent, at 7,337 after rising 0.6 percent the previous day.
Banks traded higher, with BNP Paribas, Credit Agricole and Societe Generale rising between 0.6 percent and 1.3 percent.
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