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CAC-40 Leads The European Rally
(RTTNews) - The CAC-40 led gains in the European region with a surge of close to 1 percent, as relief at the CPI in U.K. cooling more-than-expected to 10.1 percent offset anxiety lingering ever since U.S. inflation declined less-than-expected to 6.4 percent.
The CAC-40 is currently trading at 7,283.41, up 0.96 percent from the previous close. The day's trading has been between 7,200.73 and 7,289.24.
Only 6 scrips among the 40 scrips in the index are trading in negative territory.
Grocery stores Carrefour surged more than 8 percent. Luxury goods maker Kering surged 4.3 percent. Legrand, Teleperformance and Hermes International, all added more than 2 percent.
The EUR/USD pair has edged 0.04 percent lower to 1.0731.
The ten-year bond yield has decreased 1.5 percent to 2.861% versus the previous close of 2.905%.
Data released just a while ago showed Industrial Production in the Euro Area declining 1.1 percent in December versus expectations of a 0.8 percent decline and growth of 1.4 percent in the previous period.
Also, Euro Area's trade deficit narrowed to 8.8 billion euros from 11.7 billion euros previously. Markets were expecting it to widen to 12.5 billion euros.
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