CAC 40 Extends Gains As Yields Ease

French stocks rose on Friday to extend gains from the previous session as U.S. Treasury yields eased and a drop in commodity prices helped ease inflation fears.

Despite more evidence of rising inflation, Federal Reserve officials said there would be no imminent move to tighten monetary policy in the world’s biggest economy.

The benchmark CAC 40 climbed 36 points, or 0.6 percent, to 6,324 after closing 0.1 percent higher the previous day.

Food group Danone fell nearly 2 percent after Goldman Sachs downgraded the stock to “sell”.

Total SE rose over 1 percent even as oil extended losses after dropping about 3 percent overnight on fading pipeline outage gears and rising COVID-19 cases in India, the world’s third biggest importer of crude.

Travel-stocks were moving higher, with Air France KLM shares rising 0.6 percent as major European economies reopen more fully from COVID-19 lockdowns.

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