CAC 40 Rises As UK Brings Forward Policy Announcements
(RTTNews) - French stocks were moving higher on Monday, as Britain's new finance minister prepares to unveil more fiscal plans aimed at calming markets rocked by the mini budget that was blamed for causing turmoil in the financial markets.
Investors also await speeches ECB policymakers Luis de Guindos and Philip Lane for clues on future rate moves.
The benchmark CAC 40 was up 17 points, or 0.3 percent, at 5,949 after closing 0.9 percent higher on Friday.
Economy-sensitive stocks were gaining ground, with banks BNP Paribas, Credit Agricole and Societe Generale rising between half a percent and 1.3 percent. Automaker Renault added 1.4 percent.
Eurozone government bond yields dropped, taking cues from British gilts, after the Bank of England outlined the various liquidity operations it holds following last week's conclusion of emergency market support.
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