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CAC 40 Edges Higher Led By Banks
(RTTNews) - French stocks rose on Monday as investors priced in U.S. rates to peak around 5.4 percent by September.
Markets believe the Federal Reserve will decrease rates if the U.S. economy experiences a recession next year.
The benchmark CAC 40 was up 45 points, or 0.6 percent, at 7,392 after gaining 0.9 percent on Friday.
Among the top gainers, BNP Paribas, Credit Agricole, Engie, Hermes International, Societe Generale and Veolia all rose around 1 percent.
Alstom SA edged up slightly. The rolling stock maker has bagged a contract from Japanese company, Mitsubishi Corp., to provide an integrated railway system for the extension of the North-South Commuter Railway project in Philippines.
Alstom's contract share is worth around 1.1 billion euros and booking is expected during 2023-24.
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