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CAC 40 Edges Higher Led By Banks
(RTTNews) - French stocks traded higher on Wednesday after Richmond Fed President Thomas Barkin suggested the U.S. central bank would lower interest rates if recent progress on inflation continued.
Soft inflation data from Germany and the U.K. also boosted hopes for rate cuts next year.
The benchmark CAC 40 was up 13 points, or 0.2 percent, at 7,587 after finishing marginally higher the previous day.
Banks BNP Paribas and Credit Agricole both rose over 1 percent while peer Societe Generale added half a percent.
Automaker Renault was slightly higher. Europe's new car registrations continued to expand in November but the pace of growth moderated, data released by the European Automobile Manufacturers' Association showed.
Car registrations increased 6.7 percent year-on-year in November, slower than the 14.6 percent rise in October.
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