French stocks were moving higher on Tuesday as investors bought into sectors that are expected to benefit from a steady economic recovery.
Underlying sentiment was also underpinned after a survey showed French consumer sentiment strengthened to a 15-month high in June.
The consumer confidence index rose to 102 in June from 98 in May. This was the highest level since March 2020 and was also above economists’ forecast of 100.
The survey showed that the share of households considering it is a suitable time to make major purchases rose sharply by ten points to -2, the highest since February 2018.
The benchmark CAC 40 edged up 16 points, or 0.2 percent, to 6,574 after losing 1 percent the previous day.
Economically- sensitive stocks were gaining ground with banks BNP Paribas, Credit Agricole and Societe Generale rising between 1 percent and 1.5 percent.
Rexel SA, a distributor of electrical supplies, surged 4.2 percent after raising its sales outlook for full-year 2021.
CAC 40 Edges Higher On Economic Optimism
2021-06-29 09:02:59
