FX.co ★ CAC 40 Edges Higher As Economy Stabilizes In April

French stocks experienced a slight incline this Tuesday, due to varying business activity data reflecting the shifting state of the economy. The dominant services sector, having stagnated for nearly a year, finally showed signs of expansion this April. Despite this advancement, the manufacturing sector remained in a slump due to decreased activity.

The combined flash PMI, which includes both services and manufacturing sectors, experienced a rise, moving from 48.3 in March to 49.9. Additionally, the standard CAC 40 rose by 20 points or 0.3 percent, reaching 8060 after a 0.2 percent increase from the prior day.

However, Renault SA, a prominent auto company, witnessed a decline in over 2 percent as the firm reported a slight revenue increase for the first quarter. Sanofi, a major pharmaceutical company, experienced a marginal rise. The company announced that its drug candidate, rilzabrutinib, achieved a primary objective of a late-stage clinical trial for adult patients with persistent or chronic immune thrombocytopenia.