CAC Up Marginally Amid Cautious Moves

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(RTTNews.com) - The French stock market is up marginally on Thursday. Stocks are moving mostly sideways in slightly cautious trades, with investors reacting to August inflation data.

Slightly easing worries about U.S.-China trade dispute aid sentiment. The market is also looking ahead to the outcome of the monetary policy meetings of the European Central Bank and the Bank of England, for further direction.

The benchmark CAC 40 is up 10.11 points, or 0.19 percent, at 5,342.24. On Wednesday, the index gained about 0.9 percent.

Among the prominent gainers in the market, Michelin is rising more than 3 percent, ST Microelectronics is up 2.3 percent and Renault is adding 2.2 percent.

Valeo, Peugeot, Societe Generale, Credit Agricole, Danone, Sodexo, BNP Paribas and Sanofi are also notably higher.

Publicis, Technip and Hermes International are declining by 1.4 to 3 percent. Arcelor Mittal, Total and Essilor International are modestly lower.

On the economic front, France's consumer prices grew at a steady pace in August, final data from the statistical office Insee showed Thursday.

According to a report from the statistical office, consumer price inflation in France came in at 2.3 percent for August, the same rate as registered in July, and in line with the preliminary estimate published on August 31.

Inflation, based on the harmonized index of consumer prices, remained unchanged at 2.6 percent in August, as estimated.

On month, consumer prices gained 0.5 percent after a slight downturn in July, the data showed. Monthly inflation came in line with preliminary estimate.

This rebound came from a seasonal increase in manufactured product prices by 1.1 percent after the summer sales in the metropolitan area. Moreover, food price inflation accelerated to 0.3 percent from 0.1 percent, in the wake of those in food excluding fresh products.

The HICP recovered in August, rising 0.5 percent on month, reversing a 0.1 percent fall in July. The monthly rate was revised down from 0.6 percent.

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This article appears in: Stocks , World Markets , Banking and Loans , Economy

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