CAC 40 Little Changed As Investors React To Lagarde Speech
(RTTNews) - French stocks were little changed on Tuesday as investors reacted to comments from Chinese Premier Li Qiang that growth has picked up this quarter and more stimulus was in store.
The euro edged up after European Central Bank President Christine Lagarde said today that the central bank is committed to attain the 2 percent inflation target.
"Monetary policy currently has only one goal: to return inflation to our 2 percent medium-term target in a timely manner," Lagarde said in a speech at an ECB forum in Sintra, Portugal.
"And we are committed to reaching this goal come what may."
Without any material change to the euro area outlook, the bank will continue to increase rates in July, Lagarde reiterated.
The benchmark CAC 40 was marginally higher at 7,190 after rising 0.3 percent in the previous session.
Banks BNP Paribas, Credit Agricole and Societe Generale were seeing modest gains while automaker Renault was moving lower.
Sanofi edged down slightly despite reporting positive results from its phase 2B study of Amlitelimab in adults with moderate-to-severe Atopic Dermatitis.
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