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CAC 40 Edges Higher As Inflation Eases
(RTTNews) - French stocks traded higher on Friday after the release of mixed economic data.
French business activity contracted more than expected in December, a survey showed. The HCOB France flash composite PMI - which comprises both the services and manufacturing sectors - dropped to 43.7 points from 44.6 in November.
Meanwhile, France's consumer price inflation slowed in November but exceeded the initial estimate, final data released by the statistical office INSEE showed.
Consumer price inflation eased to 3.5 percent in November from 4.0 percent in October. The initially estimated rate was 3.4 percent.
The latest inflation figure was the weakest since January 2022.
Likewise, inflation based on the harmonized index of consumer prices, softened to 3.9 percent from 4.5 percent.
The benchmark CAC 40 was up 34 points, or half a percent, at 7,610 after gaining 0.6 percent the previous day.
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