CAC 40 Struggles For Direction As Inflation Accelerates
(RTTNews) - French stocks struggled for direction on Friday after data showed consumer prices in the country rose at a faster rate this month due to higher energy prices.
Consumer prices rose an average 2.7 percent year-on-year in May, according to EU-harmonized figures set out by national statistics agency Insee.
Eurozone and U.S. inflation readings are awaited later in the day.
The benchmark CAC 40 was marginally higher at 7,983 after rising 0.6 percent the previous day.
Sanofi shares dropped half a percent. The French drug major and Regeneron Pharmaceuticals, Inc. announced that the U.S. FDA has requested additional analyses on the efficacy of Dupixent as an add-on treatment in certain patients 'smoker's lung'.
Automaker Renault declined 1.4 percent after it announced a joint venture with Chinese partner Geely for hybrid combustion engines.
U.S. Import Prices Unexpectedly Rise 0.3% In October
U.S. Retail Sales Climb 0.4% In October, Slightly More Than Expected
U.S. Industrial Production Decreases In Line With Estimates In October
New York Manufacturing Index Soars Into Positive Territory November
U.S. Import Prices Unexpectedly Increase In October
U.S. Retail Sales Climb Slightly More Than Expected In October
Bay Street Likely To Open On Mixed Note
