CAC 40 Little Changed As Investors Await Fed Decision
2024-09-09
3955
(fxcue news) - French stocks were steady on Monday as investors remained cautious ahead of an expected Federal Reserve interest-rate cut this week. The main debate is should the Fed go in with a 50-bps cut or stick to a 25-bps cut.
The benchmark CAC 40 was marginally higher at 7,471 after rising 0.4 percent on Friday.
Ipsen SA jumped 5.5 percent. The drug maker has cancelled plans to commercialize a treatment for prostate cancer after a late-stage trial stopped short of reaching its main goals.
Electrical supplies distributor Rexel soared 10 percent after saying it had rejected an unsolicited preliminary bid from billionaire Brad Jacobs-led QXO.
Vallourec SA was moving lower. The seamless tubular solutions company has agreed to acquire Thermotite do Brasil Ltda. a provider of thermal insulation pipe coating services for the offshore oil and gas industry, from Mattr Corp. (MATR.TO) for $17.5 million, on a cash-free, debt-free basis.
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