CAC Up Slightly Amid Lackluster Trade
(RTTNews) - The French stock market was up slightly amid stock specific activity at a little past noon on Monday. The mood was cautious due to worries about U.S.-China trade dispute after another round of tariff hikes from the two countries took effect over the weekend.
Also, after recent strong gains, investors appeared a bit wary of creating fresh positions. Data showing a modest rebound in manufacturing sector activity in the month of August aided sentiment.
The benchmark CAC 40, moving in a very narrow range, was up 9.80 points, or 0.18%, at 5,490.28.
On Friday, the index added about 0.56%, after gaining as much as 1.41% a session earlier.
Among the gainers, Pernor Ricard, Sanofi, L'Oreal and Veolia Entertainment were up 1.3 to 1.6%.
Engie, Orange, Unibail Rodamco, Carrefour, AXA, Saint Gobain, Societe Generale and BNP Paribas were modestly higher.
Michelin, ArcelorMittal, Bouygues, STMicroElectronics, Capgemini and Publicis Groupe were down in negative territory.
On the economic front, France's manufacturing sector rebounded in August driven by recovery in both output and new orders. The final PMI improved to 51.1 in August from 49.7 in July. The initial estimate for August was 51.0.
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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