CAC 40 Edges Higher; Saint Gobain Shares Rally On Earnings
(RTTNews) - French stocks opened higher on Friday to extend gains from the previous session amid optimism that the world may avoid a deep recession and only experience slow growth or a softer recession.
Amid uncertainty over the future trajectory of the Federal Reserve' rate hikes, investors looked ahead to the release of the Fed's preferred inflation tool later in the day for further direction.
The benchmark CAC 40 was up 26 points, or 0.4 percent, at 7,344 after gaining 0.3 percent the previous day.
Saint-Gobain jumped nearly 5 percent. After posting record annual revenue, the building materials firm said it would allocate at least 400 million euros for share buybacks in 2023 in line with the objectives set out in its "Grow & Impact" plan.
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