CAC 40 Edges Higher In Cautious Trade

French stocks were seeing modest gains on Thursday, after having suffered heavy losses the previous day on concerns that U.S. interest rates are likely to stay higher for longer.

The benchmark CAC 40 was up 22 points, or 0.3 percent, at 7,957 after tumbling 1.5 percent the previous day.

The dollar held steady near a two-week high following a two-day, 15-basis point jump above 4.6 percent for long-term Treasury yields.

Traders kept a close eye on the bond market to see if there’s any further selloff.

VINCI rose about 1 percent. The concessions and construction company announced that it has received a new works contract worth A$159 million or approximately 96 million euros for Melbourne Airport in Australia.