French stocks advanced on Tuesday as lender Societe Generale topped analyst expectations in the second quarter of this year and said it expects revenues to increase across all businesses going forward.
The benchmark CAC 40 index climbed 52 points, or 0.8 percent, to 6,727 after rallying 1 percent in the previous session.
Societe Generale jumped 5.4 percent after the country’s third largest lender swung back to profit in the second quarter and raised its forecast for the full year.
Frederic Oudea, the group’s CEO, said in a statement that the results for the first half of 2021 are the best in five years.
BNP Paribas and Credit Agricole both rose about half a percent.
Sanofi edged up slightly. The drug maker has agreed to acquire Translate Bio, a clinical-stage mRNA therapeutics company which is developing a new class of medicines to treat diseases caused by protein or gene dysfunction.
CAC 40 Rises As Societe Generale Returns To Profit
2021-08-03 09:25:01
