February 24, 2021

Market and Financial News Aggregator

CAC 40 Rises On Strong US Data

1 min read
VIXC Market and Financial News

VIXC Market and Financial News Magazine.

French stocks rose notably on Friday, with upbeat U.S. economic data released overnight and the prospect of further fiscal stimulus helping underpin sentiment.

The U.S. Labor Department will release its closely-watched report on the employment situation in the month of January later in the day. Economists expect employment to rise by 50,000 jobs in January after a decline of 140,000 jobs in December.

The benchmark CAC 40 rose 46 points, or 0.8 percent, to 5.655 after closing 0.8 percent higher the previous day.

Vinci surged 5.3 percent. After posting disappointing FY20 results, the construction and infrastructure company said it expects contracting business to achieve growth in business levels and earnings.

Pharmaceutical company Sanofi rallied 2.2 percent after reporting stronger-than-expected results for the fourth quarter.

BNP Paribas gained 2 percent after the lender reported a smaller-than-expected drop in fourth-quarter profit.

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2021-02-05 04:13:46

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