CAC 40 Inches Higher As Investors Await US Inflation Data
(RTTNews) - French stocks opened higher on Tuesday, the dollar declined, and bond yields eased as investors remained convinced that key U.S. inflation data due later in the day would show an easing in price pressures on an annual basis.
U.S. consumer prices are expected to show a monthly increase in January, although the annual rate of growth is expected to slow to 6.2 percent from 6.5 percent in the previous month.
A hotter-than-expected reading might force the Fed into a more aggressive posture. Options trades show some investors are anticipating a peak rate of 6 percent by September.
The benchmark CAC 40 was up 17 points, or 0.2 percent, at 7,226 after closing 1.1 percent higher on Monday.
Travel stocks traded higher, with Franco-Dutch airline Air France KLM gaining 1 percent after holiday group TUI said recent bookings for the upcoming summer are running ahead of pre-pandemic levels.
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