CAC 40 Rises After Inflation Data
2024-09-12
4993
(fxcue news) - French stocks traded higher on Friday as bond yields eased amid bets of an interest-rate cut at next week's Federal Reserve meeting.
The U.S. central bank is almost certain to start its rate-cutting cycle next week, but analysts are looking for clues on the size of cuts over the next few months.
Meanwhile, statistics office INSEE confirmed today that consumer prices in France rose 2.2 percent year-on-year in August, matching the preliminary reading published late last month.
The benchmark CAC 40 was up 19 points, or 0.3 percent, at 7,454 after rising half a percent.
The euro edge higher, a day after the European Central Bank cut the deposit interest rate by 25 basis points, as expected, and kept the door wide open for more rate cuts without giving any guidance on the future path.
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