CAC 40 Modestly Higher As Investors Eye U.S. Jobs Data, French Political Developments
(RTTNews) - French stocks areas moving in a tight band on Friday with investors awaiting U.S. non-farm payroll data due later in the day, and Monday's confidence vote called for by French Prime Minister Francois Bayrou.
Non-farm payrolls in the U.S. may have grown 75,000 in August, according to forecasts. The jobless rate is seen rising to 4.3%, the highest level since 2021.
According to media reports, French President Emmanuel Macron wants to move quickly to name a new prime minister following the government's likely collapse on Monday.
The benchmark CAC 40 was up 18.53 points or 0.24% at 7,717.45 a little while ago.
STMicroElectronics is rising 4.7%. ArcelorMittal, Stellantis, Legrand, Capgemini, Kering and Safran are up 1 to 1.8%.
Schneider Electric is gaining nearly 1%. Michelin, Teleperformance, Thales, Renault, Eurofins Scientific, Publicis Groupe and Saint Gobain are also up in positive territory.
LVMH, L'Oreal, Pernod Ricard, Edenred and Bouygues are down 0.6 to 1.1%. Carrefour, Societe Generale and Essilor Exottica are also weak.
In economic news, France's trade deficit decreased in July from a month ago as exports rose amid a fall in imports, data released by the customs office showed.
The trade deficit dropped to EUR 5.6 billion in July from EUR 7.2 billion in June. The expected shortfall was EUR 6.1 billion.
In the corresponding month last year, the trade deficit was EUR 6.2 billion.
Exports posted a monthly increase of 2.6%, while imports were 0.5% lower. On an annual basis, both exports and imports increased by 0.5% and 0.8%, respectively.
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