CAC 40 Inches Higher Despite Mixed Earnings
(RTTNews) - French stocks were moving higher on Tuesday, as investors digested a slew of earnings updates and looked ahead to the policy meetings by the European Central Bank and Federal Reserve for directional cues.
The benchmark CAC 40 was up 22 points, or 0.4 percent, at 6,154 as Treasury yields dropped for a second day running amid growing bets that a pronounced economic slowdown will push the Federal Reserve into softening its hawkish stance after a 75-points rate hike in November.
Remy Cointreau shares slumped 6.6 percent after the spirits firm said that sales and profit growth in the second half would be slower than the first half.
Air Liquide jumped 3.6 percent. After delivering significantly higher revenue in the third quarter, the industrial gases company said it is confident in its ability to further increase its operating margin and to deliver recurring net profit growth, at constant exchange rates.
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