CAC 40 Rises To 1-week High, Up Nearly 0.5%

(RTTNews) - The French stock market gained notable ground in positive territory Wednesday morning thanks to some strong buying at select counters, and remained firmly placed well above the flat line around noon.

Rising hopes of an interest rate cut by the Federal Reserve in December, and meaningful progress in Ukraine peace talks contribute to the positive mood in the market.

The benchmark CAC 40 was up 47.65 points or 0.49% at 8073.45 about a quarter past noon.

L'Oreal climbed nearly 2.5%. Societe Generale and EssilorLuxottica gained 1.4% and 1.3%, respectively. Kering advanced nearly 1%.

Airbus, ArcelorMittal, LVMH, AXA, Hermes International, Legrand and Dassault Systemes moved up 0.5 to 0.8%.

Safran gained 0.3% after announcing a joint venture with Bharat Electronics in India to expand its civil and military aerospace operations.

Meanwhile, Pernod Ricard and Stellantis drifted down 1.7% and 1.6%, respectively. Engie lost about 0.8%, while Capgemini eased by about 0.5%.