BRUSSELS (dpa-AFX) - France's equity benchmark CAC 40 climbed modestly higher on Thursday thanks to some brisk buying at select counters. Weak crude oil prices and easing concerns about Fed rate hikes thanks to tame U.S. inflation data aided sentiment.
Despite continued uncertainty about the reopening of the Strait of Hormuz, brent crude futures dropped to $87.25 a barrel this morning, losing nearly 2% from previous close.
The CAC 40, which advanced to 8,707.39, was up 21.75 points or 0.25% at 8,696.70 a little while ago.
BNP Paribas and Societe Generale moved up 1.5% and 1.3%, respectively. Credit Agricole advanced 0.7%.
Kering and L'Oreal gained 1.4% and 1.3%, respectively. Accor, Capgemini, Airbus, Stellantis, Thales, Danone, LVMH, Engie, Pernod Ricard, Saint Gobain, Hermes International, AXA and Legrand moved up 0.5%-1.2%.
Dassault Systemes dropped about 1.4%. STMicroelectronics shed 1.25%. Air Liquide, TotalEnergies, ArcelorMittal and Euronext lost 0.4%-0.7%.
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