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CAC 40 Slightly Higher After PMI Data

2024-06-07MyfxbookMyfxbook
French stocks were higher on Thursday amid expectations that the rate-hike cycle has ended globally, and rate cuts might begin next year.
CAC 40 Slightly Higher After PMI Data

(RTTNews) - French stocks were higher on Thursday amid expectations that the rate-hike cycle has ended globally, and rate cuts might begin next year.

The downside remained capped after a survey showed French business activity contracted again in November.

The HCOB flash November composite PMI - which comprises both the services and manufacturing sectors - slipped to 44.5 points from 44.6 in October.

Meanwhile, Eurozone business activity fell again in the month, stoking recession fears.

The PMI covering the bloc's overall economic health edged up to 47.1 from October's near three-year low of 46.5.

The benchmark CAC 40 was up 13 points, or 0.2 percent, at 7,274 after gaining 0.4 percent the previous day.

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