CAC 40 Rises On Stimulus Hopes

(RTTNews) - French stocks rose notably on Monday amid lingering hopes for a new U.S. stimulus package, with House Speaker Nancy Pelosi (D-Calif.) saying that an economic stimulus deal must be struck within 48 hours in order for Congress to pass legislation before Election Day.

China's GDP data missed forecasts, but reinforced expectations for a V-shaped recovery.

It's a big day for central bankers, with investors waiting to hear from Federal Reserve Chairman Jerome Powell and European Central Bank President Christine Lagarde.

The benchmark CAC 40 climbed 40 points, or 0.8 percent, to 4,976 after rallying 2 percent on Friday.

Danone advanced 1.4 percent. The world's largest yoghurt maker reinstated its forecasts for 2020 and said it's planning to sell assets.

Carmaker Renault declined 1.6 percent on news that it would unveil an eight-year turnaround plan next year to cope up with a demand slump exacerbated by the coronavirus crisis.

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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