CAC 40 Climbs Higher Ahead Of ECB Rate Decision
(RTTNews) - The French stock market's benchmark index CAC 40 climbed higher on Thursday, recovering from previous session's losses, with investors looking ahead to the European Central Bank's policy announcement due later in the day.
The ECB is widely expected to announce a 25 bps hike in interest rate, the first increase in about three years. The ECB Chief Christine Lagarde's post-meeting press conference is eyed for clues about further policy moves.
Meanwhile, investors continued to follow the developments on the Middle East front where tensions between the U.S. and Iran continue to remain a cause for concern.
The CAC 40 was up 67.61 points or 0.83% at 8,229.44 at noon.
STMicroelectronics moved up 3.2%. ArcelorMittal gained 2.75%, while Societe Generale, LVMH, Engie, Veolia Environment, Carrefour, Schneider Electric and Thales climbed 1.4%-1.8%.
TotalEnergies, Bouygues, Publicis Groupe, Renault, Safran, Kering, BNP Paribas, Hermes International, Bureau Veritas, Airbus, Credit Agricole, Unibail Rodamco and Orange gained 0.6%-1.1%.
Capgemini drifted lower by about 3.6%. Dassault Systemes shed 3.2%, and Legrand dropped 1.9%. Pernod Ricard, Stellantis and Air Liquide also showed weakness.
