FX.co ★ CAC 40 Struggles For Direction As Inflation Accelerates

French stocks exhibited mixed performance on Friday as new data revealed an acceleration in consumer price growth due to surging energy costs. According to figures harmonized with EU metrics and released by the national statistics agency Insee, consumer prices in France increased by an average of 2.7 percent year-on-year in May.

Investors remain cautious as they await key inflation figures from both the Eurozone and the United States later today.

The benchmark CAC 40 index noted a slight increase, trading at 7,983, following a 0.6 percent rise the previous day.

Sanofi saw its shares decline by 0.5 percent after the French pharmaceutical giant, alongside Regeneron Pharmaceuticals, Inc., disclosed that the U.S. FDA has requested further efficacy analyses on Dupixent for its potential as an additional treatment for certain patients suffering from 'smoker’s lung.'

Renault shares fell by 1.4 percent in response to the automaker's announcement of a joint venture with its Chinese partner, Geely, aimed at developing hybrid combustion engines.