BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks advanced on Wednesday as investors digested upbeat management commentary on earnings recovery.
The focus turns to the U.S. Federal Reserve policy stance, though economists expect no change in interest rates.
The benchmark CAC 40 index rose 35 points, or 0.7 percent, to 4,964 after declining 0.2 percent in the previous session.
Schneider Electric surged 4.6 percent. The electrical equipment group confirmed its medium-term goals, which include raising its adjusted EBITA margin to 17 percent by 2022.
Luxury group Kering soared 4.7 percent. Chief Financial Officer Jean-Marc Duplaix told media that sales momentum had picked up in June in all regions as lockdowns eased.
Sanofi gained about half a percent as Britain signed a supply deal for up to 60 million doses of a possible Covid-19 vaccine being developed by Sanofi and GlaxoSmithKline.
In economic releases, French consumer confidence weakened unexpectedly in July after improving last month, survey data from the statistical office Insee showed.
The consumer sentiment index fell to 94 in July from 96 in June. The score was forecast to rise to 99.
Households' opinion balance on their past financial situation lost 3 points to -15 in July. Meanwhile, the measure for future financial situation remained stable at -8.
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