CAC 40 Gains On Hopes For Early Rate Cuts
(RTTNews) - French stocks advanced on Friday after data showed U.S. retail sales declined more than expected, feeding hopes the Federal Reserve will soon start cutting interest rates.
Investors are also pinning hopes that the European Central Bank would not hold off for too long on its first rate cut this year.
"It's not a question of rushing into things; but acting gradually and pragmatically may be preferable to deciding too late and then having to over-adjust," ECB member and Bank of France head Francois Villeroy de Galhau told Belgian paper L'Echo.
The benchmark CAC 40 was up 44 points, or 0.6 percent, at 7,787 after climbing 0.9 percent the previous day.
Among the top gainers, BNP Paribas, Dassault Systemes, Eurofins Scientific, Hermes International, Kering, Legrand, STMicroelectronics, Societe Generale and Stellantis rose 1-2 percent.
Airbus Group shares were down more than 1 percent.
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