French stocks were modestly higher on Wednesday as oil prices stabilized and most euro area borrowing costs touched new multi-week lows ahead of the release of the minutes of the Federal Reserve meeting later today. The minutes, due at 2:00 PM ET, could reveal more hawkish ideas for interest rates.
The benchmark CAC 40 edged up 19 points, or 0.3 percent, to 6,526 after losing 0.9 percent on Tuesday.
The euro held near a three-month low against the dollar after Germany’s industrial production decreased unexpectedly in May, raising doubts about the strength of the economic recovery.
State-controlled power group EDF climbed 1.1 percent after upgrading its EBITDA target for 2021.
Banks were broadly lower, with BNP Paribas falling more than 1 percent. Automaker Renault fell 2.3 percent.
Market Analysis
CAC 40 Edges Higher Before Fed Minutes
2021-07-07 09:19:36
