CAC 40 Sees Cautious Gains
(RTTNews) - French stocks were moving higher on Monday amid expectations that moderating inflation will help the Federal Reserve pull off a soft landing for the economy.
Sentiment was also underpinned after China's central bank cut both one-year and seven-day lending rates by 10 basis points in a surprise move to revive demand.
The upside remained capped after data showed China's economy was struggling with COVID-19 restrictions.
China's industrial production and retail sales growth for July came in well below estimates, youth unemployment hit a record high in July, investment into real estate fell at a faster pace in July than June and investment into manufacturing slowed its pace of growth, suggesting that the post-lockdown recovery is losing steam.
The benchmark CAC 40 was up 21 points, or 0.3 percent, at 6,574 after closing 0.1 percent higher on Friday.
Dollar Drifts Lower Against Major Counterparts
TSX Ends On Firm Note Again, Gains 1.1% In Week
Canadian Market Remains Positive, Looks On Course For Another Firm Close
Swiss Market Ends Modestly Higher
European Stocks Close Weak After Cautious Session
Australian Dollar Drops Against Most Majors
Canadian Dollar Falls Against Majors
