CAC Modestly Higher After Inflation Data
(RTTNews) - French stocks are up in positive territory Tuesday morning, extending gains from previous session, with investors digesting the data on the nation's consumer price inflation, and looking ahead to the euro zone consumer price data.
The benchmark CAC 40 index is up 22.33 points or 0.3% at 7,468.02.
Unibail Rodamco is surging 2.3% and Vivendi is gaining about 2.2%. Pernod Ricard is advancing nearly 2%, while Vinci, Thales, Kering, Hermes International, LVMH and Dasssault Systemes are up 1 to 1.5%.
Eurofins Scientific, Legrand, Stellantis, L'Oreal, Safran and Schneider Electric are modestly higher.
Societe Generale, Edenred, Teleperformance, Credit Agricole and Saint-Gobain are down 0.3 to 0.7%.
France's consumer price inflation remained stable at the end of the year, a provisional estimate from the statistical office INSEE showed. Consumer price inflation came in at 1.3% in December, the same as in November. The rate was forecast to climb to 1.5%.
Meanwhile, harmonized inflation edged up to 1.8% in December from 1.7% a month ago. However, inflation remained below the European Central Bank's target of 2%.
Economists expect euro area inflation to have risen to 2.4% in December, up from 2.2% in November. The jobless rate is forecast to remain unchanged at 6.3% in November.
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