CAC-40 Extends Gains Amidst Inflation Relief
(RTTNews) - The CAC-40 benchmark extended gains in Thursday's trading amidst data that showed easing inflation in France as well as the wider Euro Area.
Annual consumer price inflation in France slowed to 3.4 percent in November, down from 4% in the previous month. Annual inflation rate in the Euro Area declining to 2.4 percent year-on-year in November, from 2.9 percent in the previous month and much lower than the market consensus of 2.7 percent.
The CAC-40 is currently trading at 7,294.07, adding 0.36 percent from the previous close of 7,267.64. The day's trading has been between 7,295.05 and 7,255.04.
Only 16 of the 40 scrips in the index are currently trading in negative territory.
TotalEnergies topped with gains of 2.5 percent followed by STMicroelectronics that gained 2.3 percent. Unibail-Rodamco-Westfield, Credit Agricole, Stellantis, Societe Generale and BNP Paribas also recorded gains of more than 1 percent.
Alstom is the greatest laggard with a decline of 2.7 percent. Hermes International and Thales have both slipped more than 1 percent. Sanofi and Michelin also lost more than half a percent.
Amidst anxiety ahead of the release of the PCE data from the U.S., the Dollar Index has gained close to half a percent. DXY is currently at 103.25, versus 102.76 a day earlier. The EUR/USD has in the meanwhile slipped 0.46 percent to trade at 1.0918.
In tandem with the global hardening in bond yields, the yields on France's ten-year bonds have increased 0.35 percent to 3.006%. The yield was at 2.995 percent a day earlier.
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