CAC 40 Up Slightly In Lackluster Trade
(RTTNews) - French stocks are mostly subdued on Friday with investors refraining from making significant moves, choosing to wait for key speeches from central bank chiefs at the Jackson Hole Symposium. The focus is on Fed Chair Jerome Powell's speech for clues about interest rate cuts in September.
The benchmark CAC 40, moving in a tight range between 7,923.39 and 7,959.31, was up 8.06 points or 0.1% at 7,946.35 a few minutes ago.
STMicroElectronics is rising 1.8%. Teleperformance, Stellantis and ArcelorMittal are gaining 1 to 1.5%.
TotalEnergies, Vivendi, Sanofi, Edenred, LVMH, BNP Paribas, Hermes International and Capgemini are up with moderate gains.
Shares of train manufacturer Alstom are up nearly 1% on winning a £75m eight-year maintenance contract with Great Western Railway.
Carrefour, Safran, Societe Generale and Engie are down marginally.
In economic news, the confidence among French manufacturers held steady in August, as expected, monthly data from the statistical office INSEE revealed.
The manufacturing sentiment index stood at 96.0 in August, the same as in July. Moreover, the index moved closer to its long-term average of 100.
The overall business confidence index, which comprises the responses of business leaders from sectors such as manufacturing, construction, services, retail trade, and wholesale trade, also stayed unchanged at 96.0. At the same time, the employment climate index dropped to 95 from 96.
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