CAC 40 Gains As Focus Turns To Powell's Speech

RTTNews | 1126 hari yang lalu
CAC 40 Gains As Focus Turns To Powell's Speech

(RTTNews) - French stocks traded higher on Thursday after softer-than-economic data from the U.S. and Europe increased the chances that big central banks would soon stop raising interest rates.

A pause in ECB rate hikes this September seems more likely, a day after data showed Eurozone business activity declined far more than expected in August.

The Jackson Hole event lined up this week is being anxiously awaited by investors for clues on U.S. interest rates.

The benchmark CAC 40 was up 50 points, or 0.7 percent, at 7,296 after finishing marginally higher the previous day.

In corporate news, energy provider Engie was little changed after it signed a binding agreement to acquire Broad Reach Power, a company specialized in battery storage and based in Houston, from private equity funds EnCap and Apollo.

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