CAC 40 Sees Modest Gains Amid Efforts To Stem China Rout
(RTTNews) - French stocks traded slightly higher on Tuesday despite heightened tensions in the Middle East and lingering uncertainty over the Federal Reserve's ratee trajectory.
U.S. Treasury yields dipped from recent highs, helping underpin investor sentiment to some extent.
Investors also cheered efforts by Chinese policymakers and regulators to stem an equity rout.
China's Shanghai Composite index rallied 3.2 percent today and Hong Kong's Hang Seng index surged over 4 percent after a Chinese state investment fund said it would expand shareholdings in local stocks to aid sagging markets.
Closer home, the benchmark CAC 40 was up 29 points, or 0.4 percent, at 7,619 after finishing marginally lower the previous day.
Automaker Renault fell about 1 percent after Stellantis Chairman John Elkann denied the carmaker had merger plans.
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