CAC 40 Climbs On Rate Cut Expectations

French stocks climbed on Friday amid expectations that the U.S. Federal Reserve and European Central Bank could move to cut rates in September.

Investors also watched the latest political developments after the parliamentary elections on 7 July came as a general surprise.

French Prime Minister Gabriel Attal today said he hoped to prevent a government with far right or far left members being formed after an inconclusive snap election.

The benchmark CAC 40 was up 62 points, or 0.8 percent, at 7,689 after rising 0.7 percent the previous day.

Thales was marginally higher after receiving a contract from the French defense procurement agency to provide thirty dual-band X/Ka satellite communication stations for the French Army.