CAC 40 Modestly Higher Ahead Of Confidence Vote
(RTTNews) - The French market is up in positive territory on Monday despite investors staying a bit cautious ahead of the crucial confidence vote that could cost Prime Minister François Bayrou his post.
Expectations of a rate cut by the Federal Reserve next week appear to be aiding sentiment a bit.
The benchmark CAC 40 was up 31.07 points or 0.4% at 7,705.85 a few minutes ago.
Schneider Electric is gaining about 2.5%. Bouygues, Saint Gobain, Michelin, Legrnd, Credit Agricole, Unibail Rodamco, Airbus and ArcelorMittal are up 1 to 1.25%.
TotalEnergies, Accor, Vinci, Kering, Societe Generale, Dassault Systemes and Veolia Environment are up with modest gains.
Edenred is down more than 6% amid prospects of a dselay in the adoption of the meal voucher reform. The project has already been postponed several times due to changing political conditions in the country.
Danone is losing about 1%, while Pernod Ricard, Orange, Teleperformance, Safran, L'Oreal, Sanofi and Essilor Luxottica are down 0.4 to 0.8%.
Results of a survey showed investor morale in the euro zone plunged in September to its lowest level since April. The Sentix index for the region unexpectedly fell to -9.2 in September from -3.7 in August. The investor sentiment index was seen rising to -2.2 in September.
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