French stocks rose on Monday as French manufacturing activity remained strong in July, despite supply chain turmoil, as concerns over China’s regulatory crackdown eased.
Eurozone July final manufacturing PMI fell from a June 63.4 reading, but surpassed the initial 62.6 “flash” estimate after a record expansion in the second quarter and in July Confirmed at 62.8.
Optimism about corporate profits and the development of US infrastructure bills have also boosted sentiment. The benchmark CAC 40 index fell 0.3% on Friday and then rose 54 points (0.8%) to 6,666.
Automaker Renault rose 3.6%, and cyclics were the focus of attention.
In the banking sector, Crédit Agricole rose 1.3% and Societe Generale rose 1%.
Axa rose 3.7% as it reported increased revenues across global insurance and reinsurance. jobsDriven by pricing and improved market conditions.
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CAC 40 profits from profit optimism
Source link CAC 40 profits from profit optimism