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CAC 40 Gains As Cyclicals Rebound
(RTTNews) - French stocks rose notably on Friday despite mounting concerns over Europe's energy crisis and slowing growth momentum in the global economy.
Traders remained focused on a key U.S. jobs report due later in the day that would provide additional clues on the pace of future rate rises in the United States.
The European Central Bank announces its interest-rate decision next week, with analysts expecting a 75-bps hike.
The benchmark CAC 40 rose 52 points, or 0.9 percent, to 6,086 after declining 1.5 percent in the previous session.
Industrial gases company Air Liquide Group fell about 1 percent. The company confirmed its intention to withdraw from Russia.
Economy-sensitive stocks were gaining ground, with automaker Renault climbing nearly 2 percent.
Banks BNP Paribas, Credit Agricole and Societe Generale rallied 1-2 percent.
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