French stocks rose on Tuesday after the United Kingdom government reversed nearly all the tax cuts and a survey showed German economic sentiment improved in October.
Meanwhile, U.K. bond yields rose again after the Bank of England disputed a report that it will further delay its quantitative tightening program.
The benchmark CAC 40 was up 50 points, or 0.8 percent, at 6,091 after gaining 1.8 percent the previous day.
Spirits giant Pernod Ricard gained 1 percent after it has struck an agreement to acquire a majority shareholding of Co´digo 1530 Tequila.
Publicis Groupe rallied nearly 3 percent. The world’s third-biggest advertising group raised its 2022 guidance once again after posting better-than-expected Q3 organic revenue growth.
Automaker Renault added 2 percent after industry data showed Europe’s new car registrations increased for the second straight month in September.
New passenger car registrations grew 9.6 percent on a yearly basis, following August’s 4.4 percent increase, according to data published by the European Manufacturer’s Association. This was the second consecutive increase in sales.
Market Analysis
CAC 40 Rises After UK Fiscal U-turn
2022-10-18 09:24:03
