French Stocks Rebound
The CAC 40 rose 0.4% to 8,118 on Wednesday, rebounding from a nearly four-month low hit in the previous session as weaker oil prices and lower bond yields supported equities. Markets now await the Federal Reserve’s monetary policy decision later today, with traders pricing in roughly a 93% chance of a 25bps hike and looking for guidance on the policy outlook. The European Central Bank recently raised its key interest rates by 25bps at its September meeting, citing persistent inflationary pressures linked to the Middle East conflict and warning that inflation is expected to remain above its 2% target for an extended period. Notable gainers included Schneider Electric (+1.3%), BNP Paribas (+1.1%), STMicroelectronics (+1.9%), and Legrand (+1.5%). In contrast, L’Oréal (-1.2%), Hermès (-0.8%), and Danone (-1.2%) declined.
4% to 8,118 on Wednesday, rebounding from a nearly four-month low hit in the previous session as weaker oil prices and lower bond yields supported equities. Markets now await the Federal Reserve’s monetary policy decision later today, with traders pricing in roughly a 93% chance of a 25bps hike and looking for guidance on the policy outlook. The European Central Bank recently raised its key interest rates by 25bps at its September meeting, citing persistent inflationary pressures linked to the Middle East conflict and warning that inflation is expected to remain above its 2% target for an extended period. 5%).
2%) declined.