CAC 40 Marginally Higher In Cautious Trade
2024-11-04
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(fxcue news) - French stocks were little changed with a positive bias on Tuesday due to uncertainty surrounding the U.S. presidential election, with polls predicting a tight race.
Analysts believe Trump's policies on immigration, tax cuts and tariffs would put upward pressure on inflation, bond yields and the dollar.
Markets are also positioning for a 25-basis point rate cut by the Federal Reserve and the Bank of England on Thursday.
The Federal Reserve's commentary on the economic outlook and the future trajectory of interest rates will be watched closely amid the complexities of an election year and geopolitical tensions.
The benchmark CAC 40 was up 5 points at 7,377 after declining half a percent the previous day.
In corporate news, construction-to-telecoms group Bouygues jumped nearly 4 percent as nine-month core earnings came in slightly above expectations.
Atos SE rose half a percent. The IT company has agreed to sell its Worldgrid business unit to ALTEN SA for an enterprise value of 270 million euros.
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