(RTTNews) – France’s equity benchmark CAC 40 climbed higher on Monday, extending recent gains amid easing concerns about geopolitical tensions and expectations the central banks will likely hold interest rates for now.
Data showing a further contraction in French construction sector activity limited market’s upside.
The CAC 40, which climbed to 8,561.38 earlier in the session, was up just 10.72 points or 0.13% at 8,518.79 about half an hour past noon.
Thales rallied 2%. The technology and defense firm has agreed to buy the Gorge family’s 35.51% stake in high-technology industrial group Exail Technologies.
EssilorLuxottica moved up 2.3%. Publicis Groupe gained nearly 2%. Stellantis advanced 1.8%, while Euronext, Capgemini, Airbus, Dassault Systemes and LVMH climbed 1%-1.5%.
Michelin, Sanofi, Eurofins Scientific, L’Oreal, Societe Generale, AXA, Bureau Veritas, Kering, Safran and Danone moved up 0.5%-0.9%.
Shares of Vinci concessions and construction company dropped about 2% despite the group bagging three long-term road infrastructure and maintenance contracts in Greater London with a combined value of nearly €70 million per year.
ArcelorMittal drifted down 2.5% and Eiffage shed 2%. Schneider Electric, STMicroelectronics, Engie, Orange, Bouygues, Legrand, Carrefour, Veolia Environment and Accor lost 0.5%-1.6%.
In economic news, data from S&P Global showed the S&P Global France Construction PMI fell to 38.2 in June from 39.6 in May, signaling a faster contraction in construction activity.
