French stocks were sharply higher on Wednesday after Ukraine President Volodymyr Zelenskyy said he has “cooled down regarding the question of a NATO membership for his country”, a delicate issue that was one of Russia’s stated reasons for invading its pro-Western neighbor.
The benchmark CAC 40 jumped 225 points, or 3.8 percent, to 6,188 after declining 0.3 percent in the previous session.
Hard-hit banks were among the top gainers, with BNP Paribas, Credit Agricole and Societe Generale climbing 5-8 percent.
Software major Dassault Systèmes SA rose over 3 percent. The company said it has decided to suspend all new business in Russia and Belarus, following ongoing Russian invasion in Ukraine.
Similarly, Alstom SA , a rolling stock maker, surged 8 percent after saying it has decided to suspend all deliveries to Russia, and suspend all future investments in the country.
Market Analysis
CAC 40 Rallies Led By Banks
2022-03-09 09:28:48
