CAC 40 Gains On China Stimulus Optimism
(RTTNews) - French stocks were a tad higher on Monday as weak Chinese data spurred hopes of more policy stimulus.
China's manufacturing activity fell for a fourth straight month in July while the services and construction sectors teetered on the brink of contraction, official data showed today.
In another development, China's State Council announced further measures to bolster consumption and economic growth.
Investors also embraced the latest economic data from the U.S. showing an easing in wage costs and core inflation.
The benchmark CAC 40 was up 14 points, or 0.2 percent, at 7,490 after rising 0.2 percent on Friday.
China-related stocks traded mixed, with Kering falling 1.3 percent, while LVMH rose half a percent and Hermes International added 1.1 percent.
The latest figures on eurozone inflation and gross domestic product are awaited later in the day.
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