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CAC 40 Inches Higher As Inflation Holds Stable

2024-06-07MyfxbookMyfxbook
French stocks were moving higher on Wednesday after data showed the country's inflation rate held stable at 6.2 percent in November.
CAC 40 Inches Higher As Inflation Holds Stable

(RTTNews) - French stocks were moving higher on Wednesday after data showed the country's inflation rate held stable at 6.2 percent in November.

On an EU-harmonized basis, the annual remained at 7.1 percent in the month, matching expectations.

Investors await crucial Eurozone inflation data as well as Fed Chair Jerome Powell's speech later in the day for directional cues.

Ahead of the ECB's interest-rate decision next month, ECB President Christine Lagarde said earlier this week that inflation in Europe hasn't reached its peak yet and it risks turning out even higher than currently expected.

The benchmark CAC 40 was up 15 points, or 0.2 percent, at 6,684 after finishing marginally higher on Tuesday.

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