CAC 40 Inches Higher As Macron Urges Mainstream Coalition
(RTTNews) - French stocks rose on Thursday as lawmakers make attempts to break the political deadlock.
In a text published regional press on Wednesday, President Emmanuel Macron put responsibility on parliament to negotiate a broad coalition reflecting France's "republican institutions".
"No political force has obtained a sufficient majority on its own and the blocs or coalitions that emerge from these elections are all in the minority," he said.
Investors also reacted to Fed Chair Jerome Powell's balanced remarks on the timing of possible rate cuts and looked ahead to the release of U.S. inflation data later in the day for further direction.
The benchmark CAC 40 was up 52 points, or 0.7 percent, at 7,625 after gaining 0.9 percent the previous day.
Media group Vivendi rallied more than 3 percent after JP Morgan placed the stock on its "positive catalyst watch".
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