French stocks were sharply higher on Wednesday as investors cheered further signs of progress in the peace talks between Russia and Ukraine.
Ukrainian President Volodymyr Zelenskiy said in a video address that peace talks were sounding more realistic but more time was needed for the decisions to be in the interests of the country.
Kremlin spokesperson Dmitry Peskov said it was too early to predict progress in the talks.
Investors were also reacting to a broad rebound in Chinese tech stocks after the country pledged support for its slowing economy.
Shares of Alibaba Group Holdings and Tencent Holdings saw a reprieve from recent heavy selling today after China’s government tried to reassure jittery investors by promising support for its struggling real estate industry, internet companies and entrepreneurs.
The benchmark CAC 40 jumped 148 points, or 2.3 percent, to 6,503 after closing 0.2 percent lower the previous day.
Market Analysis
CAC Climbs On China Support
2022-03-16 09:19:25
