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CAC 40 Edges Higher As Investors Await US Bank Earnings
(RTTNews) - French stocks rose on Friday to extend gains from the previous session as U.S. inflation and interest-rate worries receded and investors pinned hopes of more Chinese stimulus to revive stalling growth in the world's second largest economy.
Traders also awaited the unofficial start of the second-quarter U.S. earnings season, with financial giants Citigroup, JPMorgan Chase and Wells Fargo due to release their quarterly results before the start of trading.
The benchmark CAC 40 was up 25 points, or 0.3 percent, at 7,395 after adding half a percent the previous day.
The euro touched a fresh 16-month peak against a weakening dollar while Eurozone government bond yields were little changed after a powerful two-day rally.
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CAC 40 Modestly Higher
The French market is modestly higher in cautious trade on Tuesday with investors closely following the developments on the geopolitical front.
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Asian stocks ended mostly higher on Tuesday after China and Australia cut interest rates as expected.
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