French stocks advanced on Thursday as the outcome of the Fed’s meeting helped clear some uncertainty on the rate outlook.
French manufacturers’ confidence unexpectedly improved in December, survey results from the statistical office Insee showed earlier today, adding to optimism about economic recovery.
The business confidence index rose to 111 in December from 110 in the previous month. The score was forecast to fall to 109.
The past production index advanced notably to 21 from 9 in November. However, the overall order books balance fell to -6 from -3. The assessment about the foreign orders weakened, with the index easing to -8 from -3.
The benchmark CAC 40 climbed 99 points, or 1.43 percent, to 7,026 after rising half a percent in the previous session.
Banks gained ground, with BNP Paribas, Credit Agricole and Societe Generale rising between 1.3 percent and 1.7 percent.
Valneva shares soared 9.5 percent. The biotech company said its Covid-19 vaccine candidate was efficient as a booster for people who had received the same shot as an initial vaccination.
Market Analysis
CAC 40 Rises After Fed Verdict
2021-12-16 09:15:11
