CAC 40 Climbs As China Announces New Stimulus Measures
(RTTNews) - French stocks advanced on Thursday, with expectations of another big U.S. interest rate cut this year and optimism over fresh stimulus measures from China boosting investor sentiment.
The benchmark CAC 40 was up 121 points, or 1.6 percent, at 7,686 after falling half a percent the previous day.
China-linked LVMH, Hermes International and Kering soared 6-7 percent after Chinese leaders pledged to deploy "necessary fiscal spending" to meet this year's economic growth target of roughly 5 percent.
Air Liquide rose about 1 percent. The supplier of industrial gases said that it will invest close to 60 million euros to take over and operate an Air Separation Unit or ASU under a long-term contract with Wanhua Chemical Group, a supplier of chemical products in Yantai, China.
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