Markets

CAC 40 Pares Early Gains

February 17, 2022 — 04:39 am EST

Written by RTTNews.com for RTTNews

(RTTNews) - French stocks gave up some early gains on Thursday after Russian-backed rebels in eastern Ukraine accused Kyiv government forces of using mortars to attack their territory.

The benchmark CAC 40 was up 11 points, or 0.2 percent, at 6,975 after hitting a high of 7,017 earlier in the session.

Luxury goods maker Kering jumped almost 7 percent after reporting sharp growth in fourth-quarter sales.

Peer LVMH rose half a percent and Hermes advanced 2.4 percent.

Aircraft giant Airbus fell over 1 percent after saying it is targeting 720 commercial aircraft deliveries in 2022.

Automaker Renault gave up 1.5 percent after industry data showed Europe's new car registrations continued to decline in January.

Air France-KLM slumped 5 percent despite the airline turning to a positive operating result in its fourth quarter.

Media firm Lagardere rose 1.2 percent after narrowing its annual loss.

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