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CAC 40 Sees Cautious Gains
(RTTNews) - French stocks were moving higher on Monday amid expectations that moderating inflation will help the Federal Reserve pull off a soft landing for the economy.
Sentiment was also underpinned after China's central bank cut both one-year and seven-day lending rates by 10 basis points in a surprise move to revive demand.
The upside remained capped after data showed China's economy was struggling with COVID-19 restrictions.
China's industrial production and retail sales growth for July came in well below estimates, youth unemployment hit a record high in July, investment into real estate fell at a faster pace in July than June and investment into manufacturing slowed its pace of growth, suggesting that the post-lockdown recovery is losing steam.
The benchmark CAC 40 was up 21 points, or 0.3 percent, at 6,574 after closing 0.1 percent higher on Friday.
Canadian Dollar Eases Against Most Majors
Swiss Market Ends Sharply Lower
European Stocks Close Weak As Trade War Fears Hurt Sentiment
Canadian Market Remains Weak On Tariff Concerns
Bay Street Likely To Open Lower
Pound Falls As U.K. Economy Contracts For Second Straight Month
Wall Street Likely To Open On Weak Note
