FX.co ★ CAC 40 Gains On Rate Cut Bets

French stocks saw an uptick on Wednesday, buoyed by traders' growing anticipation that the European Central Bank will reduce interest rates by another 25 basis points on October 17, amidst declining inflation and sluggish economic activity in the region.

The dollar maintained its substantial gains for the week as Iran's missile attack on Israel spurred a move towards safe-haven assets.

The benchmark CAC 40 rose by 45 points, or 0.6 percent, reaching 7,619 after experiencing a 0.8 percent decline the previous day.

In corporate developments, TotalEnergies leaped 3.4 percent, with oil prices extending an overnight rally due to concerns that escalating Middle East tensions could disrupt crude production in the area.

Furthermore, the company has greenlighted the final investment decision for the GranMorgu development on offshore Block 58 in Suriname, committing to a total investment of approximately $10.5 billion.