French stocks rallied on Wednesday after data showed factory activity across the region lost momentum in August, spurring hopes of more stimulus from central banks.
Closer home, French manufacturing activity grew at its slowest pace in six months in August as shortages of materials and transportation delays due to the pandemic continued to weigh, a monthly business survey showed.
Data compiler IHS Markit’s final manufacturing Purchasing Managers’ Index (PMI) fell to 57.5 points from 58.0 in July but came in slightly above a preliminary reading for August of 57.3 points.
The benchmark CAC 40 jumped 92 points, or 1.4 percent, to 6,771 after declining 0.1 percent the previous day.
Travel & leisure stocks were moving up, with Franco-Dutch airline holding company Air France KLM climbing 2.3 percent.
Retailer Casino Guichard gained 0.9 percent after it announced a partnership with Intermarché, covering joint product purchasing mainly in France.
Spirits maker Pernod Ricard jumped 3.6 percent after is FY 2021 results reflected a strong recovery.
Diagnostics specialist BioMerieux climbed 3.4 percent after confirming its full-year earnings target.
Carrefour lost over 4 percent as luxury goods billionaire Bernard Arnault sold the 5.7 percent stake he owned in the supermarket group.
CAC 40 Rallies On Stimulus Hopes
2021-09-01 09:20:36
