FX.co ★ CAC 40 Climbs Ahead Of ECB Rate Decision

French stocks saw an uptick on Thursday, driven by speculation that the European Central Bank (ECB) would announce an interest rate reduction later that day. This anticipated move is in response to declining inflation and deteriorating economic conditions.

The CAC 40 index increased by 84 points, or 1.1%, reaching 7,576, recovering from a 0.4% decline in the previous session.

In corporate developments, Schneider Electric surged 2.6% following its decision to acquire a controlling interest in Motivair Corporation, a company known for its advanced liquid cooling solutions for high-performance computing.

Publicis Groupe, an advertising giant, climbed 1% after upwardly revising its global forecast for 2024 for a second time.

Getlink rose 2.1% as the operator of the Channel Tunnel reported third-quarter revenue that exceeded expectations.

Pernod Ricard, the spirits producer, advanced more than 2%. After a lackluster start to its financial year, the company expressed confidence in returning to a growth trajectory by next summer.