CAC 40 Rallies On China Stimulus Hopes
(RTTNews) - French stocks rose sharply on Wednesday, with China stimulus hopes and encouraging earnings boosting investor sentiment ahead of the Federal Reserve's interest-rate decision later in the day.
A measure of China's manufacturing activity slipped to a five-month nadir in July, fueling expectations for more Chinese stimulus.
The benchmark CAC 40 was up 93 points, or 1.25 percent, at 7,568 after closing up 0.4 percent the previous day.
Airbus, the world's largest plane maker, surged 4.4 percent while jet engine and equipment maker Safran fell nearly 1 percent after reporting their half-year results.
Yogurt maker Danone jumped 4.5 percent after revenue rose more than expected in the second quarter.
Schneider Electric, a global leader in energy management and automation, rallied 3.4 percent after reporting better-than-expected H1 earnings and raising its outlook.
Veolia Environnement SA, a provider of environmental management services, rose about 1 percent after its subsidiary Veolia North America agreed to sell Veolia North America Regeneration Services to private equity firm American Industrial Partners for an enterprise value of $620 million.
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