CAC 40 Pares Modest Early Gains, Down Marginally In Cautious Trade

(RTTNews) – French stocks are turning in a mixed performance Friday morning with investors digesting the data on industrial production and consumer spending, and looking ahead to U.S. jobs data.

The benchmark CAC 40, which advanced to 7,514.14 earlier, is down 2.40 points or 0.03% at 7,487.88.

Data released by the statistical office INSEE showed that France’s industrial production grew 0.2% in November from October, when it was down 0.3%. Economists had forecast a monthly fall of 0.1%. Similarly, manufacturing output expanded 0.2 percent, partially offsetting the 0.1% drop a month ago.

A separate report from INSEE said France consumer spending rebounded in November on rising engineered goods and food consumption. The report said household consumption advanced unexpectedly by 0.3% on a monthly basis, offsetting the revised 0.3% fall in October. Spending was forecast to edge up 0.1%.

Capgemini is rising 1.8%. ArcelorMittal and Airbus Group are gaining 1.4% and 1.2%, respectively. Eurofins Scientific is up nearly 1%.

Dassault Systemes, Orange, Publicis Groupe, Safran, Accor and Credit Agricole are up with modest gains.

Pernod Ricard is down by about 1.25%. Renault is down nearly 1%, while Veolia Entertainment, L’Oreal, Schneider Electric and Danone are trailing their previous closing levels by 0.5 to 0.9%.

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