CAC 40 Gains As LVMH Sales Soar
(RTTNews) - French stocks advanced on Thursday despite uncertainty around the Fed's rate path and growing concerns about the U.S. economy slipping into a recession later this year.
The benchmark CAC 40 was up 69 points, or 0.9 percent, at 7,466 after finishing marginally higher the previous day.
Renault gained 0.7 percent as the automaker announced a long-term commercial partnership with French start-up Verkor for the supply of electric batteries.
Luxury giant LVMH jumped 4.3 percent after its first-quarter revenue grew by 17 percent, more than double analysts' expectations, as China emerged from COVID lockdowns.
Kering SA rallied 2 percent and Hermes climbed 3.2 percent after customs data showed Chinese exports rose for the first time in 6 months.
Total exports soared 14.8 percent year-on-year in March, the data showed, a sharp rise from last March when strict virus lockdowns crippled normal economic activity.
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