French stocks were moving higher on Thursday after U.S. Federal Reserve Chairman Jerome Powell struck a dovish tone in a news conference following the release of a new policy statement from the Federal Reserve.
Following the Fed’s slightly hawkish monetary policy announcement, Powell noted that the U.S. is not at a point where the Fed could start to taper.
The benchmark CAC 40 index climbed 52 points, or 0.8 percent, to 6,661 after rallying 1.2 percent the previous day.
Electric utility EDF fell nearly 3 percent after the government suspended an ambitious overhaul plan for the company due to disagreement with the European Commission.
Plane maker Airbus jumped 4 percent after raising its guidance for profit and aircraft deliveries.
Hotel group Accor lost 2 percent after reporting an operating loss for the first half of the year.
Telecom company Orange tumbled 3.1 percent as it announced a 3.7 billion-euro ($4.4 billion) impairment on the value of its Spanish activities.
Market Analysis
CAC 40 Rises On Dovish Fed
2021-07-29 09:17:27
