Markets

CAC 40 Rises Ahead Of Fed Meeting

(RTTNews) - French stocks were moving higher on Monday as investors await monetary policy decision from the Federal Reserve for guidance on its policy action.

A two-day meeting of the Fed ends on Wednesday, with economists expecting no change to rate and QE program.

Investors will be watching Powell's remarks for indications about the strength of the economic recovery and the timing of tapering its asset purchase program.

In economic releases, Eurozone industrial production figures for April beat expectations.

Eurostat said that output from factories, mines and utilities across the single-currency area rose by 0.8 percent over the previous month in April - beating forecasts for a 0.4 percent increase.

The benchmark CAC 40 index was up 23 points, or 0.3 percent, at 6,623 after rising 0.8 percent in the previous session.

Banks traded mixed while automaker Renault gave up half a percent.

Total SE shares rose over 1 percent as oil prices hovered near multi-year highs, underpinned by an improved outlook for demand backed by the lifting of travel curbs due to increased vaccinations.

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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