French stocks were modestly higher on Thursday as investors react to the Fed’s hawkish statement and the latest Eurozone inflation figures for May.
As inflation concerns mount, Fed officials on Wednesday penciled in two potential rate hikes in 2023.
Eurostat’s final reading of the Eurozone consumer price inflation for May came in at 2.0 percent on an annual basis, as estimated earlier. Inflation in the 19 countries sharing the euro rose 0.3 percent month- on-month.
Meanwhile, the Swiss National Bank kept the policy rate and interest on sight deposits at the SNB unchanged at -0.75 percent as expected.
The benchmark CAC 40 index rose 13 points, or 0.2 percent, to 6,652 after closing 0.2 percent higher the previous day.
Automaker Renault advanced 1.3 percent after industry data showed Europe’s passenger car registrations increased sharply in May.
Passenger car sales advanced 53.4 percent year-on-year in May, after expanding 218.6 percent in April due to the low base of comparison, the European Automobile Manufacturers’ Association said.
Market Analysis
CAC 40 Edges Higher After Inflation Data
2021-06-17 09:25:06
