CAC 40 Modestly Higher On Renewed US Economic Optimism
(RTTNews) - French stocks were seeing modest gains on Friday, after having rallied sharply the previous day on hopes of a soft landing for the world's largest economy.
The benchmark CAC 40 was up 15 points, or 0.2 percent, at 7,438 after climbing 1.2 percent on Thursday.
Banks BNP Paribas, Credit Agricole and Societe Generale were up between half a percent and 0.8 percent while automaker Renault surged 1.3 percent.
The dollar was slightly lower against the euro and pound after the release of upbeat consumer spending and labor market data released overnight.
Traders' attention now shifts to the annual Jackson Hole Economic Symposium, which traditionally brings together the heads of the world's leading central banks. This year's event will be held on August 22-24.
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