CAC 40 In The Green As War Clouds Fade
(RTTNews) - The CAC 40 index that tracks the 40 largest French stocks based on the Euronext Paris is trading in green territory as geopolitical concerns surrounding the Russia-Ukraine conflict eased.
The CAC-40 is currently trading at 7236.66, edging up 0.10 percent from the previous close of 7,229.64. The day's trading has been between 7,280.39 and 7,232.61.
Amidst the diminishing risk aversion, only 15 of the 40 scrips in the index are trading below the flatline.
Edenred topped gains with a surge of 3.3 percent after a brokerage upgraded the stock from 'Underperform' to 'Hold'. Kering rallied more than 2 percent. Dassault Systemes and Teleperformance, both gained more than 1 percent.
Thales topped losses with a decline of 1.9 percent. Renault, Vivendi, Stellantis and Capgemini, have all lost more than 1 percent.
Amidst the Dollar's rebound, the EUR/USD pair has slipped 0.38 percent to 1.0554 percent after ranging between 1.0610 and 1.0542. With the British pound strengthening after higher-than-expected inflation readings, the EUR/GBP pair also slipped 0.23 percent to 0.8336. With fading safe haven demand dragging down the Japanese yen, the EUR/JPY pair however increased 0.36 percent to 164.44.
With war clouds fading and safe haven bids shrinking, yields on bonds too hardened worldwide. Yields on France's ten-year bonds spiked to 3.113 percent recording an increase of 1.14 percent from the level of 3.078 percent at the previous close. The day's trading ranged between 3.114 percent and 3.076 percent.
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