French stocks edged higher on Tuesday after Federal Reserve Chairman Jerome Powell said that U.S. economic outlook has clearly brightened amid faster vaccination rates and fiscal stimulus, but cautioned that the economy is “not out of the woods yet.”
“While the recovery is gathering strength, it has been slower for those in lower-paid jobs,” Powell said at a National Community Reinvestment Coalition event on Monday.
Separately, New York Fed President John Williams noted that current conditions are “not nearly enough” for a shift in the monetary policy stance.
The benchmark CAC 40 rose 14 points, or 0.2 percent, to 6,322 after adding 0.6 percent in the previous session.
Dassault Aviation soared 7.5 percent after Egypt’s defense ministry decided to purchase an additional 30 Rafale fighter jets to equip its force.
Airline Air France KLM advanced 1.4 percent amid expectations that France will publish a so-called “green list” of countries that people can go to on holidays.
Media group Vivendi edged down slightly after it reached an agreement to end years of legal sparring over a scrapped pay-TV deal.
CAC 40 Edges Higher On Recovery Hopes
2021-05-04 09:17:23
