Paris shares close higher led by auto stocks, anticipation of rate cut |
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Published
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Mon, 29 Oct 2007 17:35
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PARIS (Thomson Financial) - Share prices closed up, led higher by auto stocks and with investors awaiting a decision on a possible rate cut from the US Federal Reserve later in the week.The CAC-40 index closed 41.32 points or 0.71 pct higher at 5,836.19.Among CAC-40 stocks, 26 closed higher and 14 closed lower.'I think it's the anticipation of a decision on a rate cut in the US that is supporting the market,' said one Paris-based trader. 'Apart from that, I'm struggling to understand why the market is rising,' he added.The euro was at 1.4411 usd, compared to 1.442 usd at midday.greg.keller@thomson.comgk1/gk1/rwCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Paris shares up at lunchtime; auto stocks lead gains as traders await US news 