CAC 40 Rallies As LVMH Delivers Solid Results
(RTTNews) - French stocks traded sharply higher on Wednesday, after having fallen heavily on Tuesday on concerns about rising tensions between Iran and Israel, and U.S. rate cut uncertainty.
The benchmark CAC 40 was up 96 points, or 1.2 percent, at 8,028 after falling around 1.4 percent in the previous session.
The euro held steady above 1.0600 against the dollar after posting small losses on Tuesday.
Sanofi was little changed despite reporting positive data from Phase 2 study of frexalimab in participants with relapsing multiple sclerosis (MS) at 48-weeks.
LVMH jumped more than 4 percent. The world's largest luxury group slightly missed Q1 revenue estimates but sounded optimistic about the industry's outlook, especially in China.
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