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CAC 40 Rises On Improved Risk Sentiment

French stocks advanced on Thursday after the Federal Reserve reiterated commitment to maintain its ultra-loose monetary policy until there was substantial progress in attaining its employment and inflation goals.

Fed officials acknowledged the improvement in the medium-term outlook for real GDP growth and employment but expressed caution about ongoing risks of the pandemic to the economic outlook.

Traders now await a speech from the Fed Chair Jerome Powell at a virtual IMF seminar, where he outlines his views on global recovery and the monetary policy outlook.

The benchmark CAC 40 rose 27 points, or half a percent, to 6,158 after finishing marginally lower on Wednesday.

The U.S. dollar traded near its lowest in more than two weeks versus major peers as Treasury yields eased after the release of dovish Fed mintues.

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