CAC 40 Inches Higher With ECB Meet In Focus
(RTTNews) - French stocks advanced on Thursday ahead of a European Central Bank (ECB) policy meeting later in the day.
In a prelude to an expected Fed move next week, the ECB is expected to cut its baseline interest rate from 4.25 percent to 4 percent due to falling inflation and sluggish growth.
Markets will focus more on comments by ECB President Christine Lagarde to confirm if further rates are to follow in October and December.
The benchmark CAC 40 was up 42 points, or 0.6 percent, at 7,439 after closing 0.1 percent lower the previous day.
The dollar firmed up after August U.S. CPI came in as expected, but core CPI inflation unexpectedly rose to 0.3 percent month-on-month, denting hopes for a 50-bps rate cut at next week's FOMC meeting.
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