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CAC 40 rises in PMI, focusing on inflation data

French stocks rose on Friday after data showed that Eurozone manufacturing PMI fell more than expected in June.

The decline in new orders in June hit French manufacturing, but PMI slightly exceeded Flash’s estimates.

Meanwhile, the eurozone’s annual inflation rate has reached record highs, Eurostat said. Consumer prices rose 8.1% in May and then rose 8.6% annually in June.

Benchmark CAC 40 rose 32 points (0.5%) to 5,955 after falling 1.8% the day before.

Sodexo rose 3%. The Catering and Food Services Group confirmed its fiscal year outlook after reporting a 23% increase in revenue in the third quarter.

Franco Italian chip maker STMicroelectronics fell 0.6% after US memory chip maker Micron showed weak forecasts.

Lottery operator La Francaise des Jou plunged 8% after Citigroup downgraded its shares to “sell.”

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CAC 40 rises in PMI, focusing on inflation data

Source link CAC 40 rises in PMI, focusing on inflation data

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