10.05.2024 11:16:23 - dpa-AFX: CAC 40 Climbs As UK Economy Exits Recession

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks rose on Friday as fresh
signs of cooling in the U.S. labor market revived hopes for U.S. rate cuts this
year.

Bank of England's dovish rate decision on Thursday and better-than-expected U.K.
GDP growth data released earlier today also boosted investor sentiment.

The U.K economy exited a technical recession in the first quarter with the
economic output growing better than expected led by a rebound in the services
output and household spending.

Gross domestic product grew 0.6 percent from the fourth quarter, when the
economy shrank 0.3 percent, preliminary estimates from the Office for National
Statistics showed.

Economists had expected the first quarter growth to come in at 0.4 percent.

The benchmark CAC 40 was up 58 points, or 0.7 percent, at 8,245 after gaining
0.7 percent on Thursday.



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Copyright RTT News/dpa-AFX
Name WKN Börse Kurs Datum/Zeit Diff. Diff. % Geld Brief Erster Schluss
CAC 40 969400 Paris 8.094,97 24.05.24 18:05:02 -7,36 -0,09% - - 8.053,79 8.094,97
FTSE 100 969378 Financial Times SE 8.317,59 24.05.24 17:50:00 -21,64 -0,26% - - 8.339,23 -
DAX ® 846900 Xetra 18.693,37 24.05.24 17:50:00 +2,05 +0,01% - - 18.687,60 18.693,37
E-STOXX 50 ® 965814 STOXX Ltd. 5.035,41 24.05.24 17:50:00 -2,19 -0,04% 0,000 - 5.027,94 5.035,41

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