French stocks were notably higher on Monday amid hopes that U.S. rate hikes are nearing an end.
The benchmark CAC 40 was up 57 points, or 0.8 percent, at 7,287 after edging up 0.2 percent on Friday.
Valneva SE, a specialty vaccine company, jumped 2.6 percent after reporting positive initial Phase 3 safety data in adolescents for its single-dose chikungunya virus vaccine candidate VLA1553.
Banks BNP Paribas, Societe Generale and Credit Agricole rose between 0.6 percent and 1.7 percent after Latvian policymaker Martins Kazaks said on Saturday it may be too early for the European Central Bank to pause interest rate hikes now.
China-exposed automaker Renault added 1.6 percent after China announced new measures to stabilize its ailing stock market.
Luxury heavyweights LVMH, Kering and Hermes International all rose about 1 percent on China demand optimism.
Market Analysis
CAC 40 Gains On Fed, China Optimism
2023-08-28 09:05:16
