French stocks advanced on Friday after the European Central Bank signalled that Thursday’s rate hike could be the last hike in the current cycle. Improved retail sales and industrial production data from China also boosted sentiment.
The benchmark CAC 40 was up 105 points, or 1.4 percent, at 7,413 after climbing 1.2 percent the previous day.
Eutelsat Communications S.A., a telecommunication satellite operator, jumped 1.3 percent.
The company announced that channel programmer and distributor wedotv has launched a new FAST channel platform for audiences in Italy via Eutelsat’s HOTBIRD satellites.
Luxury stocks were moving higher, buoyed by more stimulus measures from China. Kering jumped 2.7 percent, LVMH added 3.5 percent and Hermes rose 2 percent.
Vinci SA, a concessions and construction firm, gained 1.3 percent after its unit, Vinci Construction Grands Projets, has bagged a 160 million euros contract to design and build a 180,000 m3 liquefied natural gas or LNG tank in The Netherlands.
CAC 40 Climbs After ECB’s Dovish Rate Hike
2023-09-15 09:10:13
