BRUSSELS (dpa-AFX) - French stocks are up in positive territory on Thursday, despite concerns about the impact of U.S. tariffs that come into force today. Investors are largely focusing on earnings, and digesting the Bank of England's interest rate decision.
The BoE, as widely expected, reduced its interest rate by 25 basis points today.
The benchmark CAC 40 was up 88.29 points or 1.15% at 7,723.32 a few minutes ago.
ArcelorMittal, the top gainer in the benchmark index, is up more than 7%. Accor is gaining 4.5%, while Saint Gobain, Kering, Stellantis and Teleperformance are up 3 to 3.5%.
Schneider Electric, Renault, Capgemini, LVMH, AXA, L'Oreal and Hermes International are gaining 2 to 3%.
EssilorLuxottica is up nearly 2%. Edenred, Pernod Ricard, Michelin, Vinci, Societe Generale, Air Liquide, Bouygues and STMicroElectronics are also notably higher.
Thales is down by about 3%. Engie is declining 1.9% and Orange is down 1.2%. Danone and Publicis Groupe are modestly lower.
On the economic front, government data showed France's trade deficit stood at €7.6 billion in June, unchanged from May's eight-month high and slightly above market expectations of €7.5 billion. Exports rose by 3.4% month-over-month to €50.6 billion, while imports grew by 2.9% to €58.3 billion.
France's current account deficit widened to EUR 3.4 billion in June, from a downwardly revised EUR 2.6 billion in the previous month.
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