CAC 40 Rises To Near 7-month High
(RTTNews) - French stocks are up in positive territory Wednesday morning, tracking positive cues from other markets in Europe, amid hopes the European Central Bank will lower interest rate, and that there will be a couple of interest rate cuts by the Federal Reserve this year.
Concerns about imposition of trade tariffs by the Trump administration weigh a bit, limiting market's upside. Also, amid a lack of fresh data, investors are slightly hesitant to make significant moves.
The U.S. President has repeated his threat to impose tariffs on imports from European countries. He also said his administration was discussing imposing an additional 10% tariff on goods imported from China, starting in February.
European Union's commissioner for the economy, Valdis Dombrovskis said today that Europe will respond to any US tariffs in a proportionate way.
Investors are also focusing on the World Economic Forum in Devos, Switzerland.
The benchmark CAC 40 is up 60.00 points or 0.77% at 7,830.95, a near 7-month high.
Schneider Electric and Dassault Systemes are gaining 2.7% and 2.5%, respectively. Renault is up 2.3% and Legrand is advancing 2%.
Essilor, Safran and Bouygues are up 1.8%, 1.6% and 1.5%, respectively. Accor, Eurofins Scientific, Edenred, Hermes International, AXA and Societe Generale are advancing 1 to 1.2%.
Carrefour is down by about 1.4%, hitting a near 7-month low in the process. Vivendi is down 1.2% and ArcelorMittal is declining 0.8%. STMicroElectronics, Credit Agricole, Engie and BNP Paribas are modestly lower.
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