Markets

CAC 40 Rises On US-China Trade Hopes

(RTTNews) - French stocks rose on Wednesday after China announced a range of U.S. goods to be exempted from 25 percent extra tariffs put in place last year, raising chances of a breakthrough in the Sino-US trade war.

The next round of U.S.-China trade talks are likely to restart next week, with a senior White House adviser urging investors, businesses and the public to be patient about resolving the trade dispute between the world's two largest economies.

Investors also kept a close eye on the European Central Bank's monetary policy meeting on Thursday, where the central bank is expected to cut interest rates, ramp up asset purchases or both.

The benchmark CAC 40 was up 18 points, or 0.32 percent, at 5,611 after closing up 0.1 percent the previous day.

Retailer Casino rose over 1.1 percent on the buzz that rival Carrefour is weighing a possible bid potentially through an all-share deal.

Tariff-sensitive automakers were rallying, with Renault up 1.3 percent and Peugeot climbing 2.5 percent.

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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