CAC Rises After Government Survives No-confidence Votes
(RTTNews) - French stocks are up in positive territory on Thursday, lifting the benchmark CAC 40 to an eight-month high, as the mood remains firm following the French government surviving no-confidence votes.
France's reappointed Prime Minister Sébastien Lecornu survived successive no-confidence votes in the National Assembly today. His narrow victory comes thanks to enough support from moderates to avert a second government collapse in as many weeks.
Lecornu's offer to suspend an unpopular pension reform helped sway the opposition Socialists, giving his government a lifeline in the deeply fragmented chamber.
The benchmark CAC 40 was up 55.75 points or 0.69% at 8,132.75 a few minutes ago.
Pernod Ricard is climbing 3.7%. After a tough first quarter, the French spirits maker said it expects sales to improve in fiscal year 2026.
For the first quarter, Pernod Ricard recorded sales of EUR 2.384 billion, less than EUR 2.783 billion in the same period last year.
EssilorLuxottica is gaining 2.3%, while Michelin, Edenred, Thales and Renault are up 1.6 to 1.8%.
Legrand, Societe Generale, Schneider Electric, Sanofi, Safran, STMicroElectronics, Publicis Groupe and Stellantis are up 1 to 1.2%.
Kering is declining by about 1.6%. Bouygues, Euronext and Hermes International are down 0.4 to 0.8%. ArcelorMittal is down marginally.
U.S. Dollar Rises After Fed Rate Hike
U.S. Dollar Rises Against Majors
European Shares Seen Opening Up As Traders Shrug Off Fed Hike
Indian Shares Edge Higher In Cautious Trade
Australian Market Trims Early Gains In Mid-market
Asian Markets Trade Mostly Higher
Indian Shares Seen Little Changed At Open After Fed Rate Hike
