logo
  

CAC-40 Rallies As Tapering Anxieties Recede

French benchmark CAC-40 of the Euronext Exchange has rallied smartly from Thursday's levels as lingering anxieties on the extent and pace of tapering waned with the ECB's announcement of a token reduction in bond-buying. European Central Bank (ECB) said it would advance with its emergency bond-purchasing scheme, but at a moderately lower pace than seen in the last six months, as the eurozone has been showing signs of economic recovery.

Markets do not appear to have given much significance to the monthly industrial production growth number which came in at 0.3 percent versus forecast of 0.4 percent and previous reading of 0.6 percent.

At current level of 6707.71, the CAC-40 is up 0.33 percent from previous close and 2.98 percent lower than the 52-week high of 6913.67.

Luxury group Louis Vuitton SE is leading the price charts with a gain of around 2 percent. Luxury goods maker Hermes International, Switzerland-based semiconductor company STMicroelectronics N.V., luxury group Kering and ophthalmic company EssilorLuxottica have all gained more than 1 percent.

Commercial property investment company Unibail Rodamco is declining the most with a dip of more than 3 percent.

Eurofins Scientific, a global player in food, environment, pharmaceutical and cosmetic product testing is set to replace IT group ATOS in the CAC-40 index from September 17. Eurofins is trading higher by 1.29 percent whereas ATOS is declining 1.25 percent.

The EURUSD pair is hovering around 1.1831 levels versus 1.1825 on previous day.

France' 10Y Bond Yield is at -0.02 percent versus -0.04 percent at previous close.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT