CAC 40 Inches Higher In Cautious Trade
(RTTNews) - French stocks were moving higher on Tuesday, with hopes for softer U.S. inflation data boosting investor sentiment.
The U.S. inflation due out later in the day is expected to show a continued slowdown in the annual rate of consumer price growth to 8.1 percent in August from 8.5 percent in July.
Despite the anticipated softening, the Federal Reserve is expected to raise interest rates by 75 basis points next week to make sure inflation is extinguished.
The benchmark CAC 40 was up 30 points, or half a percent, at 6,363 after rising 2 percent on Monday.
Schneider Electric shares were marginally lower. Sky News reported late on Monday that the French industrial group is nearing a deal to take full control of Aveva for about 3.5 billion pounds ($4.1 billion).
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