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CAC 40 Rises With PMI, Inflation Data In Focus

July 01, 2022 — 05:14 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - French stocks advanced on Friday after data showed Eurozone manufacturing PMI fell less than expected in June.

A drop in new orders hit France's manufacturing sector in June but the PMI came in slightly above the flash estimate.

Meanwhile, the eurozone's annual rate of inflation hit its highest level in history, Eurostat said. Consumer prices rose an annual 8.6 percent in June after climbing 8.1 percent in May.

The benchmark CAC 40 rose 32 points, or half a percent, to 5,955 after losing 1.8 percent the previous day.

Sodexo rallied 3 percent. The catering and food services group confirmed its FY outlook after reporting a 23 percent rise in Q3 revenues.

Franco-Italian chipmaker STMicroelectronics was down 0.6 percent after U.S. memory-chip maker Micron gave downbeat forecast.

Lottery operator La Francaise des Jeux plunged 8 percent after Citigroup downgraded the stock to "sell".

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CAC 40 Rises With PMI, Inflation Data In Focus

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