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CAC 40 Rises As Sentiment Improves
(RTTNews) - Amidst broadly positive sentiment, the CAC 40 index that tracks the 40 largest French stocks based on the Euronext Paris has rallied around 0.75 percent. Strong gains in Kering helped offset the lingering pain caused by geopolitical tensions in the Middle East as well as trade related uncertainties.
The CAC-40 is currently trading at 7,745.04, adding 0.79 percent from the previous close of 7,684.88. The day's trading has been between 7,757.05 and 7,705.28.
Amidst the reversal in market sentiment, only 4 scrips in the index are trading below the flatline.
Kering topped gains with a surge of 9.6 percent. Shares of the luxury group surged amidst reports that Luca de Meo, considered an expert in corporate turnarounds is set to take over the CEO role, quitting his current job at carmaker Renault. Renault topped losses with a decline of 6.7 percent.
Shares of ArcelorMittal, Saint Gobain and BNP Paribas recorded gains of more than 2 percent.
Sanofi, Pernod Ricard and STMicroelectronics are the other scrips trading in the red zone.
With the Dollar Index shedding 0.19 percent and falling to 97.99, the EUR/USD pair has rallied 0.22 percent to 1.1578 percent. The pair ranged between 1.1587 and 1.1524. The EUR/GBP pair has also strengthened to 0.8526. The yen's weakness lifted the EUR/JPY pair 0.22 percent to 166.83.
In alignment with the global trend of hardening, yields on France's ten-year bonds increased 0.09 percent to 3.259 percent from the level of 3.256 percent at the previous close. Yields ranged between 3.303 percent and 3.250 percent.
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