CAC 40 Up 0.5% Ahead Of ECB Rate Decision
(RTTNews) - French stocks are gaining some ground in positive territory on Thursday as investors expect a 25-basis point interest rate cut from the European Central Bank later in the day. Worries about trade tension limit market's upside.
The benchmark CAC was up 39.06 points or 0.5% at 40 7,843.73 a few minutes ago.
Essilor is up 2.4% and Publicis Groupe is gaining 2.3%. Unibail Rodamco, Capgemini, Thales and Legrand are up 1.5 to 1.8%.
Saint Gobain, Michelin, BNP Paribas, Bouygues, LVMH, Teleperformance, Schneider Elecctric, Edenred, Engie, STMicroElectronics and Societe Generale are also up with notable gains.
Airbus is down by about 2%. Carrefour and Pernod Ricard are lower by 0.9% and 0.75%, respectively.
Data from S&P Global showed the HCOB Construction PMI in France fell to 43.1 in May, from 43.6 in the previous month, marking another sharp monthly contraction and extending the sector's downturn into its third consecutive year. The May reading also marked the steepest contraction since February, with the housing sector continuing to be the main source of weakness.
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