CAC 40 Edges Higher Ahead Of US CPI Data
(RTTNews) - French stocks rose on Thursday as less hawkish commentaries by some U.S. policymakers including Boston Fed President Susan Collins and her Atlanta counterpart Raphael Bostic helped ease concerns around inflation and interest-rate hikes.
Investors await U.S. consumer price inflation data later in the day for further direction.
The benchmark CAC 40 was up 33 points, or half a percent, at 7,164 after losing 0.4 percent the previous day.
China-exposed Kering rose half a percent and Hermes International added 1 percent after a move by China's sovereign wealth fund to buy shares of the country's largest banks.
Publicis Groupe shares jumped 4.5 percent. After reporting improved revenue for Q3, the public relations and adverting company now expects its organic growth to be in the range of 5.5 percent to 6 percent for full year 2023 against its previous expectation for 5 percent.
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