FX.co ★ CAC 40 Gains Ahead Of ECB Rate Decision; Publicis Shares Jump Over 4%

On Thursday, French stocks advanced in anticipation of the European Central Bank (ECB) policy meeting scheduled for later in the day.

While the ECB is widely expected to maintain its current interest rates, there is speculation that they might suggest a possible rate cut in September.

The benchmark CAC 40 index increased by 29 points, or 0.4 percent, reaching 7,600. This follows a minor decline of 0.1 percent in the previous session.

Renault, a leading automaker, saw its shares climb approximately 1 percent. This uptick followed the release of industry data indicating a strong recovery in new car sales within the EU for June, thanks largely to gains in three of the region's four major markets. Specifically, new car registrations rose 4.3 percent year-over-year in June, totaling 1.089 million units, which reversed a 3.0 percent decline observed in May.

Publicis Groupe experienced a significant rise, jumping 4.5 percent. The advertising firm revised its organic growth target for 2024 upwards after reporting stronger than anticipated results for the first half of the year.