CAC 40 Inches Higher On China Demand Hopes
(RTTNews) - French stocks were moving higher on Thursday amid optimism that cooling U.S. inflation would help reduce pressure for aggressive rate hikes from the Federal Reserve.
The dollar held steady and Treasury yields dipped amid bets on further softening of U.S. consumer inflation in December.
Hopes for a pickup in Chinese demand also underpinned sentiment, with upcoming Lunar New Year holidays likely to boost short-term demand.
The benchmark CAC 40 was up 41 points, or 0.6 percent, at 6,965 after rising 0.8 percent the previous day.
China-sensitive Kering rose over 1 percent on optimism over improvement in consumer demand.
Asian markets ended on a muted note earlier in the day while U.S. stock futures were slightly lower in pre-market trading.
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