French stocks rose notably on Friday after a survey showed the country’s private sector remained strong in July but the pace of expansion moderated from June.
IHS Markit said its flash composite output index dropped unexpectedly to 56.8 from 57.4 in June. The score was forecast to rise to 58.5.
The manufacturing Purchasing Managers’ Index fell more-than-expected to 58.1 from 59.0 in June while the expected score was 58.4. The flash services PMI came in at 57.0, down from 57.8 in June and the forecast of 58.7.
“It’s perhaps slightly disappointing to see the headline composite output figure dip slightly in July, but as the economy normalizes to a state of looser lockdown restrictions, it is not so much of a surprise,” Joe Hayes, a senior economist at IHS Markit said.
The benchmark CAC 40 index jumped 45 points, or 0.7 percent, to 6,527 after ending 0.3 percent higher on Thursday.
Among the top gainers, automaker Renault rose as much as 2.5 percent.
Thales gained 1.3 percent after the defense electronics company posted solid first-half results and lifted its full-year revenue target.
Dassault Aviation soared 5.5 percent. The aircraft manufacturing company reported that its adjusted net income for the first-half of 2021 was 265 million euros, up from 87 million euros last year.
CAC 40 Edges Higher On Earnings
2021-07-23 09:03:34
