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CAC 40 Inches Higher As Inflation Matches Estimates
(RTTNews) - French stocks were moving higher on Thursday after data showed inflation rose in line with expectations in December.
Preliminary figures from INSEE showed EU-harmonized yearly inflation stood at 4.1 percent, up from 3.9 percent in November due to increase in energy and services prices. Meanwhile, the HCOB France final purchasing managers index (PMI) for the services sector, compiled by S&P Global, rose to 45.70 points in December from 45.40 points in November.
The contraction in euro zone business activity continued at the end of 2023, indicating the bloc's economy was in recession.
The benchmark CAC 40 was up 26 points, or 0.4 percent, at 7,438 after losing 1.6 percent the previous day.
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