CAC 40 Struggles For Direction As Inflation Accelerates
(RTTNews) - French stocks struggled for direction on Friday after data showed consumer prices in the country rose at a faster rate this month due to higher energy prices.
Consumer prices rose an average 2.7 percent year-on-year in May, according to EU-harmonized figures set out by national statistics agency Insee.
Eurozone and U.S. inflation readings are awaited later in the day.
The benchmark CAC 40 was marginally higher at 7,983 after rising 0.6 percent the previous day.
Sanofi shares dropped half a percent. The French drug major and Regeneron Pharmaceuticals, Inc. announced that the U.S. FDA has requested additional analyses on the efficacy of Dupixent as an add-on treatment in certain patients 'smoker's lung'.
Automaker Renault declined 1.4 percent after it announced a joint venture with Chinese partner Geely for hybrid combustion engines.
Swiss Market Closes On Bright Note
European Stocks Close Higher On Bargain Hunting, Fairly Positive Economic Data
Consumer Staples, Materials Stocks Rise As TSX Hits New Record High
U.S. Job Openings Fall To Ten-Month Low In July
U.S. Factory Orders Slump Roughly In Line With Estimates In July
Eurozone Private Sector Growth At 1-Year High
Bay Street Likely To Open On Mixed Note
