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CAC-40 Surges As Global Sentiment Improves
(RTTNews) - The CAC-40 has outperformed other regional stock market benchmarks, with a dazzling rally of close to 2 percent. Markets are however keenly watching the jobs data from the U.S. later in the day for indications on the headroom available for the Fed to raise rates further.
Meanwhile data showing S&P Global Services PMI for October at 51.7, higher than expectations of 51.3 added to the positive sentiment. Also, producer price inflation in the Euro Area declined to 41.9 percent year-on-year in September, from an all-time high of 43.4 percent in August. The S&P Global Eurozone Services PMI however declined to 48.6 in October, declining from 48.8 in the previous month.
The CAC-40 is currently trading at 6,362.86, up 1.92 percent from Thursday's close. The day's trading has been between 6,289.07 and 6,363.01.
ArcelorMittal gained more than 6 percent. Societe Generale gained 5.9 percent after posting results that beat market expectations. Kering rose 4.7 percent whereas Stmicroelectronics and L'oreal added more than 3 percent.
Thales declined a little over 1 percent.
LVMH which gained 3 percent is the most active scrip with a turnover of 115 million.
The EUR/USD pair is at 0.9786, gaining 0.35 percent overnight amidst the US Dollar Index weakening 0.38 percent to 112.50.
The ten-year bond yield has decreased 0.09 percent to 2.786% versus 2.789% on Thursday.
The pan-European STOXX 600 is currently trading at 414.80, up 1.3 percent on an overnight basis.
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