logo
Plus   Neg
Share
Email

CAC 40 Extends Gains Ahead Of ECB Meeting

French shares were trading higher on Thursday as trade tensions showed signs of easing amid expectations that U.S. trade tariffs are likely to be differentiated by country and product.

Investors looked ahead to the European Central Bank's closely watched policy decision later in the day, although no major change in policy is expected.

The benchmark CAC 40 was up 26 points or 0.50 percent at 5,213 in opening deals after rising 0.3 percent on Wednesday.

Plane maker Airbus rose 0.2 percent after announcing production cuts.

Gecina added half a percent after successfully completing a new bond issuance program.

Supermarket giant Groupe Casino slumped 5.6 percent after its full-year net profit fell to 120 million euros from last year's 2.68 billion euros.

Engie, formerly called GDF Suez, jumped 4.5 percent. The natural gas and electricity supplier reported net income Group share for fiscal year 2017 of 1.4 billion euros, compared to net loss of 0.4 billion euros last year.

Outdoor advertising firm JCDecaux tumbled 2.8 percent after its 2017 profit fell 14 percent due to a tax charge.

Air France-KLM lost almost 4 percent after reporting passenger traffic figures for February.

In economic news, France's economy is forecast to grow at a slightly slower pace in the first quarter, a survey from Bank of France revealed. The central bank kept its growth forecast for the first quarter unchanged at 0.4 percent.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Market Analysis

Follow RTT