Business

Bank-led CAC 40 Edge

French stocks were up on Wednesday in anticipation of a faster economic recovery from a pandemic-led recession.

French scale business February activity fell to its lowest level in three months as Covid-19 regulations weighed heavily on the dominant service sector.

According to data compiler IHS Markit, Purchasing Managers’ Index dropped from 47.7 in January last month to 47.0. It was up from the first reading of 45.2.

Weaknesses are focused on services, and pandemic-related restrictions are the biggest obstacles to business.

Benchmark CAC 40 rose 51 points (0.9%) to 5,861 after rising 0.3% in the previous session.

Banks rebounded, with BNP Paribas, Crédit Agricole and Societe Generale up 2-3%.

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Bank-led CAC 40 Edge

Source link Bank-led CAC 40 Edge

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