CAC Up Sharply On Widespread Buying
(RTTNews.com) - French stocks are notably higher Friday, with traders indulging in some brisk buying at several counters, finding valuations a bit attractive after recent declines.
A strong rebound on Wall Street that resulted in the key indices signing off in style despite worries about growth and political uncertainty, lifted sentiment in Asian markets and the positive mood has now spread to Europe.
The CAC 40 is up 67.60 points, or nearly 1.5%, at 4,666.21. On Thursday, the index ended lower by about 0.6%.
All the components of the CAC 40 index are up in positive territory at present. Technip FMC, Valeo, ST Microelectronics, Kering, Saint Gobain, ArcelorMittal, Credit Agricole, Carrefour, Michelin and Louis Vuitton are gaining 2 to 4%.
Societe Generale, Safran, Atos, Airbus Group, BNP Paribas, Publicis Group, AXA, Schneider Electric, Peugeot, Sodexo, Sanofi and Engie are also up sharply.
Among other major markets in Europe, the U.K., Germany and Switzerland are all up sharply, with their benchmark indices gaining between 1.5 to 1.8%.
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