Markets

CAC 40 Edges Higher On Earnings

(RTTNews) - French stocks were moving higher on Friday after the release of mixed PMI data.

Manufacturing output improved to a five-month high, while the services PMI hit a three-month low as tighter virus restrictions continue to weigh on business activity, Markit said.

The benchmark CAC 40 rose 9 points, or 0.2 percent, to 5,737 after declining 0.7 percent in the previous session.

Food company Danone SA rose over 1 percent. The company reported that its net income - group share for fiscal year 2020 rose to 1.96 billion euros from 1.93 billion euros in the prior year.

The company anticipates to be back to growth in the second-quarter, and to return to profitable growth in the second-half of year.

Luxury goods company Hermes surged 5.4 percent as revenue returned to growth in the second half of the year.

Automaker Renault SA fell as much as 4.5 percent after it posted a record annual loss of 8 billion euros ($9.68 billion).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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