CAC 40 Climbs As Investors Await Fed Meeting Outcome
(RTTNews) - French stocks rose notably on Wednesday, Eurozone bond yields struggled for direction and the dollar dipped as investors awaited the U.S. Fed's monetary policy announcement later in the day.
The U.S. central bank is widely expected to raise interest rates by another 75 basis points, but investors are pinning hopes that the Fed will signal plans to slow the pace of rate hikes at upcoming meetings.
The benchmark CAC 40 was up 46 points, or 0.7 percent, at 6,374 after climbing 1 percent in the previous session.
Sodexo shares fell about 2 percent as the food services and facilities management company announced its strategic plans to accelerate future revenue growth.
The company said that it is confident of achieving 8-10 percent organic revenue growth at constant rates for 2023, if it could implement its plans successfully.
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