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CAC 40 Edges Higher On Stimulus Expectations

French stocks advanced on Wednesday after U.S. Treasury Secretary nominee Janet Yellen backed major fiscal stimulus to help workers and businesses battered by the coronavirus pandemic.

She urged lawmakers to 'act big" on coronavirus relief spending, arguing that the economic benefits far outweigh the risks of a higher debt burden.

President-elect Joe Biden has already outlined a $1.9 trillion economic relief package last week to jump-start the economy.

The benchmark CAC 40 climbed 39 points, or 0.7 percent, to 5,638 after declining 0.3 percent the previous day.

Nicox SA shares rose over 2 percent. The ophthalmology company reported net revenue for the full year 2020 of 8.9 million euros compared to 6.9 million euros, prior year.

Net revenue for the full year 2020 consisted 2.4 million euros in net royalties, and 6.5 million euros in license payments.

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