CAC 40 Rises In Cautious Trade

RTTNews | 584 days ago
Stocktwits
CAC 40 Rises In Cautious Trade

(RTTNews) - French stocks eked out modest gains in cautious trade on Wednesday amid expectations that the European Central Bank is finished with the process of raising rates for now.

The euro extended losses for a second straight session against the dollar as investors await the Federal Reserve's rate decision and Chair Jerome Powell's press conference later in the day.

The benchmark CAC 40 was up 23 points, or 0.3 percent, at 6,908 after climbing 0.9 percent the previous day.

Banks BNP Paribas, Credit Agricole and Societe Generale were up between half a percent and 0.7 percent. Automaker Renault gained 0.7 percent.

China-exposed LVMH and Kering traded lower after a private survey showed China's manufacturing PMI fell to 49.5 in October from 50.6 in September.

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