French equities inch up; Greek uncertainty caps gains

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Source: Dukascopy Bank SA
© Scanpix/AFP
French equities advanced on upbeat German Ifo business climate index. Moreover, recent positive manufacturing and services PMI readings continued to support French stocks. At the same time, lingering concerns over Greece's bailout weighted down on French equities. The CAC Index climbed 0.05% and is currently trading at 3,499.80. Three in ten sectors included in the index rose. The top-performers were basic materials and utilities. Air Liquide, Arcelormittal and Lafarge gained 0.27%, 0.26% and 1.57%, respectively. Among utilities, GDF Suez and Veolia Environnement jumped 0.24% and 0.21%. On the downside were telecommunications as well as oil and gas firms. France Telecom and Vivendi dropped 1.94% and 0.24%, while Total shed 0.05%. Meanwhile, Carrefour sagged 1.43% after Nomura downgraded its outlook on the European retailing sector to neutral, citing spreading economic crisis in the region.


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Fri, 23 Nov 2012 17:41:12 GMT

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