CAC 40 Gains With PMI Data In Focus
(RTTNews) - French stocks were moving higher on Monday as weak manufacturing data from China raised hopes for more policy stimulus.
Closer home, French manufacturing activity contracted in June, but the decline was not quite as bad as expected, a survey revealed.
HCOB's final PMI for France's manufacturing sector, as compiled by S&P Global, stood at 46.0 points in June.
Elsewhere, the final Eurozone PMI Manufacturing reading for June has been finalized at 43.4 versus 43.6 preliminary as demand for goods fell sharply at the end of the second quarter.
The benchmark CAC 40 was up 14 points, or 0.2 percent, at 7,413 after gaining 1.2 percent on Friday.
Technip Energies NV advanced 1.7 percent. The engineering and technology firm for the energy transition said that it has acquired Processium, a process developer focused on sustainable chemical industry, for an undisclosed amount.
Construction materials manufacturer Compagnie de Saint-Gobain S.A. gained 0.7 percent.
The company has signed a binding agreement to sell its glass processing business COVIPOR in Portugal to PNI Portugal & Permanente SA. The financial details of the transaction were not divulged.
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