French stocks rose on Friday amid bets that the Federal Reserve will slow the pace of rate hikes in the coming months.
The upside remained capped after a survey showed growth in business activity in France’s dominant services sector weakened in May compared to the previous month.
S&P Global’s final purchasing managers index (PMI) for the services sector fell to 58.3 points in May from 58.9 in April.
U.S. jobs data is due later in the day and it is believed that weak data could sway the Fed towards a less aggressive policy path.
Investors also await the announcement of the interest rate decision by the European Central Bank (ECB) next week.
The benchmark CAC 40 rose 15 points, or 0.2 percent, to 6,515 after closing 1.3 percent higher on Thursday.
Auto parts supplier Faurecia plunged 5.3 percent on equity dilution worries. The company said it is carrying out a 705 million-euro ($758 million) capital increase to fund its acquisition of German rival Hella.
Market Analysis
CAC 40 Rises Ahead Of US Jobs Data
2022-06-03 09:07:36
