CAC 40 Gains As US Debt Deal Progress Boosts Sentiment
(RTTNews) - French stocks climbed on Thursday as investors cheered signs of progress on the U.S. debt ceiling deal, solid manufacturing data from China and dovish comments from Federal Reserve officials hinting at a pause in interest-rate hikes.
A private survey showed Chinese manufacturing activity unexpectedly swung to growth in May.
Traders shrugged off signs of a deepening downturn in Eurozone manufacturing activity in May and awaited inflation data due later in the day.
The benchmark CAC 40 was up 69 points, or 1 percent, at 7,168 after closing 1.5 percent lower in the previous session.
Safran gained 1.4 percent. The aerospace and defense company said that it has entered into exclusive discussions with Air Liquide SA to buy its aeronautical oxygen and nitrogen activities, excluding the cryogenic activities related to marine applications.
Spirits group Remy Cointreau edged down slightly after it warned of a continued slowdown of consumption growth in the U.S.
Pound Falls Against Majors
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French Inflation Cools; Economy Expands As Estimated
Sensex, Nifty Extend Losses On Trade Worries
DAX Down Nearly 0.5% As Investors Focus On Economic Data
European Shares Drift Lower Ahead Of US Inflation Reading
Antipodean Currencies Rise As Traders Await U.S. PCE Inflation Data
