French stocks eked out modest gains on Wednesday as Federal Reserve Chair Jerome Powell's upbeat economic view bolstered investor confidence in the world's largest economy.
In testimony before the Senate Banking Committee, Powell on Tuesday offered a positive outlook of the U.S. economy and reiterated that gradually raising interest rates is "the best way forward." He also downplayed potential negative fallout from the ongoing U.S.-China trade spat.
The benchmark CAC 40 index was up 22 points or 0.41 percent at 5,444 in opening deals after closing 0.2 percent higher the previous day.
Aircraft manufacturer Airbus rose half a percent. Its new Global Services Forecast predicts a US$4.6 trillion worldwide market for commercial aircraft services from 2018 to 2037.
For comments and feedback contact: editorial@rttnews.com
Market Analysis