French stocks were moving higher on Tuesday amid optimism over the reopening of the U.S. and European economies.
France’s bars, restaurants and cafés will finally be allowed to reopen on Wednesday after six months of closure.
The government is moving forward with its plans to almost completely end coronavirus restrictions by June 30.
The benchmark CAC 40 inched up 18 points, or 0.3 percent, to 6,385 after declining 0.3 percent in the previous session.
Cyclicals were in favor, with automaker Renault climbing 1.5 percent.
Lenders BNP Paribas and Societe Generale gained more than 1 percent on expectations that elevated U.S. bond yields would help boost their future investment returns.
Utility Engie surged 4 percent after backing its 2021 financial guidance and reaffirming its dividend policy.
Bouygues shares fell 1.5 percent. Groupe TF1, Groupe M6, Groupe Bouygues and RTL Group said that they have signed agreements to enter into exclusive negotiations to merge the activities of Groupe TF1 and Groupe M6 and create a major French media group.
CAC 40 Inches Higher As Economies Reopen
2021-05-18 09:17:02
