French stocks traded higher on Monday after both U.S. House and Senate agreed on a short-term funding deal, helping avert a federal shutdown.
Meanwhile, investors shrugged off the results of a survey showing that France’s manufacturing sector contracted for the eighth month in a row in September.
The HCOB’s final Purchasing Managers Index (PMI) dropped to 44.2 from 46.0 in August, as production and new orders fell at their sharpest rates in over three years.
The benchmark CAC 40 was up 32 points, or half a percent, at 7,167 after edging up 0.3 percent on Friday.
Media group Vivendi jumped nearly 3 percent after Barclays upgraded the stock rating to ‘overweight’.
China-exposed LVMH, Kering and Hermes International were seeing modest gains after official data showed China’s factory activity in September expanded for the first time since April.
CAC 40 Gains Despite Weak PMI Data
2023-10-02 08:58:43
