{"id":15299,"date":"2021-10-22T09:10:21","date_gmt":"2021-10-22T09:10:21","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/10\/22\/cac-40-rallies-as-evergrande-concerns-ease\/"},"modified":"2021-10-22T09:10:21","modified_gmt":"2021-10-22T09:10:21","slug":"cac-40-rallies-as-evergrande-concerns-ease","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/10\/22\/cac-40-rallies-as-evergrande-concerns-ease\/","title":{"rendered":"CAC 40 Rallies As Evergrande Concerns Ease"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> French stocks opened higher on Friday as China Evergrande Group reportedly supplied funds to pay interest on a U.S. dollar bond, helping ease contagion fears.<\/p>\n<p>Strong earnings from L&#8217;Oreal also boosted sentiment. The benchmark CAC 40 jumped 75 points, or 1.1 percent, to 6,762 after closing 0.3 percent lower the previous day. <\/p>\n<p>Investors shrugged off the results of a survey showing that France&#8217;s private sector grew at the slowest pace in six months in October.<\/p>\n<p>IHS Markit said its composite output index fell to 54.7 in October, as economists&#8217; expected, from 55.3 in September.<\/p>\n<p>&#8220;The overall rate of expansion slowed to a six-month low as the supply-side issues hurting manufacturers the most offset a faster expansion in services activity,&#8221; Joe Hayes, a senior economist at IHS Markit said.<\/p>\n<p>In corporate news, cosmetics major L&#8217;Oreal soared 6.3 percent after posting better-than-expected revenue growth for the third-quarter.<\/p>\n<p>Remy Cointreau added 1.3 percent after the drinks maker forecast an &#8220;exceptional&#8221; current operating profit growth in the first half of its 2021\/2022 fiscal year.<\/p>\n<p>Renault declined 1.4 percent. The carmaker warned that its production losses this year would be far larger than previously forecast because of a global chip shortage. <\/p>\n<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>CAC 40 Rallies As Evergrande Concerns Ease<\/a><br \/>\n<br \/>2021-10-22 09:10:21<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>French stocks opened higher on Friday as China Evergrande Group reportedly supplied funds to pay interest on a U.S. dollar bond, helping ease contagion fears. Strong earnings from L&#8217;Oreal also&#8230;<\/p>\n","protected":false},"author":2,"featured_media":15300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-15299","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/15299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=15299"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/15299\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/15300"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=15299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=15299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=15299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}