CAC-40 Gains Amidst Rate Pause Optimism
(RTTNews) - The CAC-40 traded with gains on Wednesday amidst renewed hopes of the Fed pausing on rate hikes. Positive earnings updates also helped shore up sentiment.
The CAC-40 is currently trading at 7,434.59, gaining 0.70 percent from the previous close. The day's trading has been between 7,406.46 and 7445.95.
Of the 40 scrips in the index, only 11 are trading in negative territory.
Kering rallied more than 2 percent followed by EuroFins Scientific that gained 1.96 percent. Hermes International, LVMH, EssilorLuxottica, Capgemini and Dassault Systemes, all rallied more than 1.5 percent.
Vivendi declined 1.7 percent. Renault and Teleperformance also lost more than a percent.
The Dollar's retreat ahead of the Fed's announcement dragged the Dollar Index 0.37 percent to 101.58, lifting the EUR/USD pair 0.34 percent to 1.1036.
Expectations of an impending pause in rate hikes by the Fed reflected in the yield on France's ten-year bond dropping 0.93 percent overnight to 2.820%, from the previous close of 2.847%.
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