CAC 40 Rallies After Softer Inflation Data
(RTTNews) - French stocks rallied on Friday after data showed French inflation unexpectedly slowed in September as a result of easing food prices.
Inflation in France stood at 4.9 percent in September, the same as in August, official data revealed.
However, the harmonized index, which is important for the European Central Bank, rose 5.6 percent from a year earlier, after a 5.7 percent in August.
Eurozone inflation data and the Fed's preferred inflation gauge are due for release later in the day.
The benchmark CAC 40 rose 62 points, or 0.9 percent, to 7,178 after rising 0.6 percent the previous day.
China-exposed luxury stocks traded higher, with LVMH, Kerin and Hermes International rallying 2-4 percent on expectations of increased sales during the Golden Week holiday in mainland China.
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