CAC 40 Inches Higher In Cautious Trade
(RTTNews) - French stocks edged higher in cautious trade Friday as investors awaited Fed Chair Jerome Powell's Jackson Hole speech later in the day for additional clues about an expected interest-rate cut by the U.S. central bank at its upcoming policy meeting in September.
Meanwhile, the confidence among French manufacturers strengthened more than expected in August, monthly data from the statistical office INSEE revealed today.
The manufacturing sentiment index climbed to 99 in August from June's 43-month low of 95. However, the reading is still below its long-term average of 100. Economists had expected confidence to increase slightly to 96.
The latest resurgence in August was mainly due to the rebound of personal production expectations and an improvement in foreign orders, the survey said.
The benchmark CAC 40 was up 23 points, or 0.3 percent, at 7,547 after finishing marginally higher the previous day.
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