October 28, 2021

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CAC 40 Extends Gains On Earnings Optimism

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French stocks rose on Thursday to extend gains from the previous session amid optimism around the earnings season.

After JPMorgan kicked off big bank earnings with stellar results, investors await more U.S. earnings to assess how companies are positioned to deal with risks including inflation and higher energy prices.

UnitedHealth Group, Citigroup, Morgan Stanley and Bank of America are due to report ahead of the U.S. opening bell.

The benchmark CAC 40 climbed 52 points, or 0.8 percent, to 6,648 after rising 0.8 percent the previous day.

Advertising company Publicis Groupe rallied 3.5 percent. The company raised its outlook for 2021 after reporting 11.2 percent organic growth for the third quarter, with double-digit growth in all the regions.

Banks BNP Paribas, Credit Agricole and Societe Generale all rose about 1 percent.

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2021-10-14 05:16:41

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