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CAC 40 Gains As Bond Yields Fall Ahead Of US Inflation Data
(RTTNews) - French stocks traded higher on Wednesday and bond yields drifted lower ahead of U.S. inflation data due later in the day, expected to show moderation in price pressures. The benchmark CAC 40 was up 58 points, or 0.8 percent, at 7,277 after rallying 1.1 percent the previous day.
The euro regained further traction against the dollar amid rising bets the Federal Reserve is nearing the end of its tightening campaign.
Banks were mostly higher, with Credit Agricole and Societe Generale rising around 1 percent each.
Thales Group shares rose over 2 percent. The defense and technology group said that it started negotiations to acquire Cobham Aerospace Communications, a supplier of safety cockpit communication systems, for $1.1 billion.
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The Japanese yen weakened against other major currencies in the Asian session on Friday.
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