CAC 40 Marginally Higher In Cautious Trade
(RTTNews) - French stocks were modestly higher on Monday to extend gains from the previous session after Federal Reserve Chair Jerome Powell signaled imminent interest-rate cuts.
The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook and the balance of risks," Powell said at the Jackson Hole Economic Symposium on Friday.
The benchmark CAC 40 was up 11 points, or 0.1 percent, at 7,587 after gaining 0.7 percent on Friday.
The upside in the broader market was capped by escalating Middle East tensions following a recent exchange of strikes between Israel and Hezbollah.
Investors also looked ahead to the release of a slew of key German and Eurozone data due this week that will be crucial ahead of the ECB's interest-rate decision in September.
EU flash inflation data for August will be key for the European Central Bank as it considers its next interest-rate move.
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