CAC 40 Rises As Investors Weigh The US Election Impact
2024-11-02
2951
(fxcue news) - French stocks traded higher on Friday even as yields on government bonds continued to rise amid inflation concerns and rising odds of a Trump victory in next week's presidential election.
Investors watched Middle East developments closely after reports emerged that Iran is preparing to attack Israel from Iraqi territory in the coming days, possibly before the U.S. election.
Eurozone bonds remained mostly unchanged as signs of accelerating Eurozone inflation raised speculation the European Central Bank will likely adopt a more cautious approach to rate cuts.
The benchmark CAC 40 was up 39 points, or half a percent, at 7,388 after declining 1.1 percent the previous day.
China-related luxury stocks such as LVMH and Herms were seeing modest gains as a private survey showed activity in China's manufacturing sector rebounded in October after a dip into contraction the previous month.
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