Plus   Neg

CAC 40 Inches Higher On Recovery Hopes

French stocks edged higher on Friday as encouraging economic data from the U.S. and China boosted hopes of a swift global economic recovery.

The spread of Covid-19 remained in focus, after France added 300 new deaths Thursday to the previous day's tally of 99,777, bringing the total to 100,077 deaths.

The benchmark CAC 40 inched up 18 points, or 0.3 percent, to 6,251 after rising 0.4 percent the previous day.

Cosmetics and beauty products giant L'Oreal Co. fell nearly 2 percent despite the company posting solid sales growth in the first quarter.

Automaker Renault jumped 3 percent after industry data showed Europe's new car registrations surged in March due to last year's exceptionally low base of comparison caused by the strict Covid-19 restrictions introduced in most markets in March 2020.

Registrations of new passenger cars increased 87.3 percent annually, in contrast to February's 19.3 percent decline.

Saint-Gobain rose over 1 percent after it agreed to sell 67 percent of its Pipe business in China to a consortium led by local management.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT