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CAC 40 Rebounds As Risk Appetite Returns

French stocks opened sharply higher on Monday as investors put inflation concerns on the backburner and looked ahead to U.S. inflation data due this week for clues to whether the Federal Reserve will continue raising interest rates.

U.S. lawmakers managed to end a brief government shutdown with a bill raising spending caps and funding the government until March 23rd and oil prices rebounded after six straight days of declines, helping boost investor sentiment.

The benchmark CAC 40 was up 72 points or 1.42 percent at 5,151 in late opening deals after losing 1.4 percent on Friday.

Automaker Renault jumped 2 percent after a senior board member reportedly resigned from the company, days ahead of a meeting to consider Chief Executive Carlos Ghosn successor's appointment.

Airbus lost about 1 percent on a Bloomberg report that it has halted all deliveries of its Pratt & Whitney-powered A320neo after the latest disclosure in a series of flaws with the next-generation engine.

by RTTNews Staff Writer

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