French stocks advanced on Tuesday as growth optimism prevailed, with a survey showing that French consumer confidence unexpectedly improved in March to its highest level in three months.
Fears of a broader fallout from the U.S. hedge fund default also eased, helping lift banking stocks.
The benchmark CAC 40 inched up 33 points, or half a percent, to 6,048 after rising about half a percent in the previous session.
Banks BNP Paribas, Credit Agricole and Societe Generale were up about 2 percent on expectations they would benefit from rising bond yields.
A measure of French consumer confidence climbed to 94 from 91 in February, survey data from INSEE showed earlier today as households’ expectations regarding their financial situation outlook strengthened and the saving intentions hit a record high.
Economists had expected the index reading to remain unchanged. The latest score was the highest since December’s 95, but remained below the long-term average of 100.
Market Analysis
CAC 40 Extends Gains Led By Banks
2021-03-30 09:18:21
