CAC 40 Gains After Inflation Data
(RTTNews) - French stocks traded higher on Friday, with positive results from the U.S. Federal Reserve's annual stress tests and an upward revision to growth in the U.S. economy boosting sentiment.
Also, both French and Eurozone inflation dropped more than expected in June, helping ease pressure on the European Central Bank to keep raising rates.
Eurozone consumer inflation fell to 5.5 percent in June from 6.1 percent in May, according to preliminary data from the European Union's statistics agency Eurostat.
The benchmark CAC 40 was up 52 points, or 0.7 percent, at 7,364 after rising 0.4 percent in the previous session.
Ipsen rose half a percent. The French pharmaceutical company and late-stage biopharmaceutical company GENFIT SA have announced positive topline data from the pivotal ELATIVE Phase III trial of elafibranor in patients with primary biliary cholangitis, a rare cholestatic liver disease. Shares of the latter soared 23 percent.
Sodexo fell 2.5 percent despite the catering and food services group raising the full-year outlook of its voucher business for the second time this year.
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