CAC 40 Edges Higher Ahead Of Powell’s Testimony

French stocks edged up slightly on Wednesday ahead of the U.K. Budget and testimony from Federal Reserve Chair Jerome Powell.

British finance minister Jeremy Hunt’s spring budget is expected to include a government-backed 99 percent mortgage to help first-time buyers, despite the fragile state of the public finances.

Powell is due to testify before the House Financial Services Committee later today and the Senate Banking Committee on Thursday.

The benchmark CAC 40 was up 16 points, or 0.2 percent, at 7,948 after falling 0.3 percent in the previous session.

Eurozone bond yields edged up, heading into Thursday’s ECB meeting. With no change in interest rates expected, traders are likely to keep a close eye on growth and inflation forecasts.