CAC 40 Edges Higher As Rate Worries Ebb
(RTTNews) - French stocks rose notably on Wednesday amid increased bets that the U.S. Federal Reserve may be done hiking interest rates.
Investors also cheered data showing that French inflation unexpectedly slowed in September as a result of easing price rises in the food sector. Consumer inflation in the country decreased to 4 percent in October from 4.90 percent in September of 2023.
The benchmark CAC 40 was up 53 points, or 0.7 percent, at 7,239 after climbing 1.4 percent the previous day.
Alstom shares plunged 12 percent. The train manufacturer plans simplification of operational setup, including around 1,500 job cuts, representing close to 10 percent of total S&A positions.
Air Liquide SA, a supplier of industrial gases and services, was marginally lower after signing a pact with Japan's ENEOS Corp. to accelerate the development of low-carbon hydrogen and energy transition in Japan.
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