CAC 40 Inches Higher Ahead Of ECB Meeting
RTTNews 2023-09-11 09:02:33 • 1 min
French stocks opened higher on Monday as investors braced for a slew of global data this week as well as the European Central Bank's rate decision due Thursday.
The European Central Bank is expected to hike all three policy rates by 25 basis points, citing a weaker growth outlook and no clear evidence of a peak in core inflation. Few economists, however, predict it will be a close call.
The benchmark CAC 40 was up 41 points, or 0.6 percent, at 7,282 after gaining 0.6 percent on Friday.
Lender Societe Generale gained 1.2 percent after it announced a strategic partnership with Brookfield Asset Management to originate and distribute high-quality private credit investments through a private investment grade debt fund.
