CAC 40 Gains As ECB Survey Signals Quicker Return Of Inflation To Targets
2024-10-09
3507
(fxcue news) - French stocks were moving higher on Friday after an ECB survey showed headline inflation in the euro zone will return to the central bank's 2 percent target sooner than earlier thought. The survey is an important input in the ECB's policy deliberations.
The European Central Bank lowered interest rates for the third time this year on Thursday, citing moderating price pressures and sluggish growth.
The benchmark CAC 40 was up 31 points, or 0.4 percent, at 7,614 after rallying 1.2 percent the previous day.
EssilorLuxottica shares were marginally higher. The ophthalmic company reported that its third-quarter total revenue rose 2.3 percent to 6.437 billion euros from 6.294 billion euros last year.
On a constant currency basis, revenues grew 4.0 percent in the quarter.
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