CAC 40 Climbs On Budget Optimism
2024-12-03
4432
(fxcue news) - French stocks traded sharply higher on Friday after President Emmanuel Macron said he will appoint a new prime minister in the coming days and will get the 2025 budget adopted by parliament.
The benchmark CAC 40 was up 63 points, or 0.9 percent, at 7,393 after adding 0.4 percent to reach a three-week high in the previous session.
Meanwhile, France's foreign trade deficit decreased in October as exports grew amid a fall in imports, data from the customs office showed today.
The trade deficit dropped to EUR 7.67 billion in October from EUR 8.42 billion in the previous month. The expected shortfall was EUR 8.0 billion.
In the same month last year, the deficit was EUR 8.39 billion.
Exports posted a monthly increase of 0.9 percent in October, while imports showed a decline of 0.5 percent. Year-on-year, exports and imports fell 2.7 percent and 3.3 percent, respectively.
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