CAC 40 Rallies As Markets Look For Clues From ECB Meeting
(RTTNews) - French stocks climbed on Monday as investors looked ahead to the European Central Bank monetary policy decision on Thursday to ascertain the timing and pace of interest-rate cuts this year.
Market analysts remain skeptical of the ECB's inflation outlook and anticipate multiple cuts throughout the year.
The benchmark CAC 40 was up 58 points, or 0.8 percent, at 7,429 after falling 0.4 percent on Friday.
Credit Agricole S.A. shares rose about 1 percent. The banking group said that it has acquired a 7 percent minority interest in Worldline S.A., a payment and transactional services provider. The financial terms of the deal were not disclosed.
Gaming company Kindred soared 16.5 percent after confirming a takeover bid from La Francaise des Jeux. Shares of the latter were up4 percent.
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