CAC-40 Rises As Cooling Inflation Triggers Hopes Of Monetary Policy Review
(RTTNews) - The CAC-40 gained on Wednesday amidst positive sentiment generated by the falling inflation trajectory in the Euro Area as well as the U.K.
The CAC-40 is currently trading at 7,363.26, gaining 0.60 percent from the previous close. The day's trading has been between 7,341.16 and 7382.89.
Of the 40 scrips in the index, only 8 are trading in negative territory.
Luxury group Kering surged 6.34 percent following an organizational reshuffle. Worldline added 3.2 percent. Unibail-Rodamco-Westfield, Dassault Systemes, Eurofins Scientific, Orange, Capgemini, Hermes International, Michelin, Alstom, Bouygues and LVMH, all added more than 1 percent overnight.
Publicis Groupe, ArcelorMittal, Schneider Electric and Legrand have all shed more than 1 percent in the day's trading.
The Dollar strengthened amidst indications of strong consumer resilience, reflected in the U.S. Retail Sales reading for May being revised higher. The sterling's weakness that followed the softening in inflation also lifted the Dollar Index or DXY, a measure of the U.S. dollar's strength against a basket of 6 currencies. DXY has gained 0.21 percent to 100.15 whereas the EUR/USD pair has dropped 0.02 percent to 1.1223.
Reflecting the revised monetary policy outlook amidst the easing inflation, yield on France's ten-year bond has dropped to 2.884%, decreasing 0.72 percent overnight from the previous close of 2.905%.
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