logo
Plus   Neg
Share
Email

CAC 40 Rises On Strong Earnings

French stocks advanced on Thursday after Federal Reserve Chairman Jerome Powell reiterated that the U.S. central bank would not trim asset purchases until "substantial further progress" is made on employment and inflation goals.

Sentiment was also bolstered as Apple and Facebook delivered soaring profits and U.S. President Joe Biden unveiled details of his stimulus plans.

The benchmark CAC 40 rose 34 points, or 0.6 percent, to 6,341 after gaining half a percent on Wednesday.

Total SE shares rose nearly 2 percent after the petroleum refining company posted first-quarter earnings close to pre-pandemic levels.

Planemaker Airbus surged 2.4 percent after it posted higher first-quarter core earnings.

Capgemini advanced 1.7 percent after the consulting and technology group returned to organic growth in the first quarter of the year.

Automaker Renault fell 2.7 percent after U.S. carmaker Ford slashed its full-year forecast, citing a global semiconductor shortage.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT