CAC 40 Edges Higher In Cautious Trade
(RTTNews) - French stocks were moving higher on Friday, shrugging off weak cues from Wall Street and Asia.
In the absence of fresh catalysts, investors looked ahead to the release of U.S. jobs report later in the day for directional cues.
Economists expect U.S. employment to increase by 185,000 jobs in April following the addition of 196,000 jobs in March. The unemployment rate is expected to hold at 3.8 percent.
Closer home, Eurozone consumer price inflation ticked up to 1.7 percent in April from 1.4 percent in March.
The benchmark CAC 40 was up 18 points or 0.32 percent at 5,556 in opening deals after losing 0.9 percent on Thursday.
Air France-KLM tumbled 4.5 percent after its Q1 loss widened on the back of higher fuel costs and tough price competition.
Societe Generale rallied 3.8 percent. The bank's Q1 profit fell 26 percent, but still beat expectations.
The lender managed to significantly improve its risk-based capital ratios with its (risk-weighted asset) management measures.
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