CAC 40 Extends Gains As Inflation Worries Ease
(RTTNews) - French stocks opened higher on Tuesday as Prime Minister Elisabeth Borne said that inflation was expected to peak at the start of 2023 before retreating.
"We will have a peak at the beginning of the year and then it's going to decline," Borne told Franceinfo radio.
On a light day on the economic front, investors await German inflation data later in the day for clues on the outlook for rates.
Germany's consumer price inflation is forecast to ease to 9.1 percent from 10.0 percent in November.
Further policy action is needed to curb expectations of future price rises, European Central Bank Governing Council member Joachim Nagel said in an interview with the Zeitschrift für das gesamte Kreditwesen published on the Bundesbank website.
The benchmark CAC 40 was up 31 points, or half a percent, at 6,625 after climbing 1.9 percent on Monday.
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