French stocks rose on Tuesday as investors awaited the U.S. Federal Reserve’s monetary policy meeting for clues on future monetary policy.
At the Fed’s meeting in March, the majority of members did not expect to hike interest rates until 2024.
But amid concerns from some quarters about inflation, market participants remain cautious of a hawkish surprise at the two-day meeting beginning later in the day.
Meanwhile, investors shrugged off data showing a smaller than expected trade surplus for April.
Eurostat said the unadjusted trade surplus of the 19 countries sharing the euro stood at 10.9 billion euros in April compared with 2.3 billion in April 2020, when the pandemic hit the continent. That was short of expectations for a 15.8 billion euro surplus.
The currency area’s exports fell by 2.3 percent in April from the previous month, while imports increased by 2.4 percent, both adjusted for seasonal variations.
The benchmark CAC 40 index rose 35 points, or half a percent, to 6,651 after closing 0.2 percent higher in the previous session.
Market Analysis
CAC 40 Rises Ahead Of Fed Meeting
2021-06-15 09:19:35
