BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The CAC 40 index that tracks the 40 largest French stocks based on the Euronext Paris rallied on Thursday. The outperformance came despite a weak sentiment in global markets attributed to the selloff in tech stocks, high interest rates and worries about inflation.
The CAC 40 index that tracks the 40 largest French stocks based on the Euronext Paris is currently trading at 7,890.01, gaining 17 points or 0.21 percent from the previous close of 7,873.11. The day's trading ranged between 7,926.47 and 7,853.40.
Currently, only 10 scrips in the 40-stock index are trading below the flatline. Orange as well as Carrefour topped gains with a surge of around 2.7 percent.
STMicroelectronics led losses with a decline of 6.9 percent, followed by Legrand as well as Schneider Electric that shed around 3.6 percent.
Amidst a repricing in Fed rate hike expectations, global bond yields have softened. France's 10-year bond yields have dropped 2.4 percent to 4.764 percent from 4.881 percent a day earlier. Yields ranged between 4.895 percent and 4.737 percent in the day's trading.
The greenback's plunge has dragged down the Dollar Index in Thursday's trading. The 6-currency Dollar Index has dropped 0.49 percent to 102.05. The index was at 102.55 a day earlier. The EUR/USD pair has in the meanwhile jumped 0.59 percent to 1.1219. The pair ranged between 1.1151 and 1.1241. The EUR/GBP pair has edged up to 0.8461. The EUR/JPY pair has added 0.22 percent to trade at 177.05.
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