French stocks advanced on Friday, a day after the European Central Bank raised its growth and inflation projections, while pledging a steady flow of stimulus for now.
U.S. inflation data for May showed a bigger-than-expected increase, but investors are pinning hopes that price pressures will be temporary.
Treasury yields remained near a three-month low amid expectations that the Federal Reserve will stick to its dovish stance at the upcoming June 15-16 meeting.
The benchmark CAC 40 index rose 0.4 percent to 6,573 after declining 0.3 percent in the previous session.
Banks fell sharply as Euro zone government bond yields fell after a dovish outcome to Thursday’s ECB meeting. BNP Paribas shed 0.7 percent, Credit Agricole gave up 0.8 percent and Societe Generale fell as much as 1.5 percent.
Market Analysis
CAC 40 Edges Higher As Bond Yields Fall
2021-06-11 09:10:50
