CAC 40 Edges Higher As Manufacturing Activity Improves

RTTNews · 24 Jan 2.8K Views

French stocks were seeing modest gains on Tuesday after a survey showed manufacturing activity in the country improved for the first time since August.

S&P Global's flash composite purchasing managers' index for January slipped to 49.0 points from 49.1 in December amid a decline in activity in the country's dominant services sector. However, the corresponding PMI for manufacturing rose to 50.8 points from 49.2.

The benchmark CAC 40 was up 17 points, or 0.3 percent, at 7,044 after rising half a percent the previous day.

Technip Energies N.V. edged up slightly. The engineering and technology firm has bagged a contract from Saudi Aramco to upgrade sulfur recovery facilities at Aramco's Riyadh oil refinery.

Industrial gas and services provider Air Liquide was little changed after signing a power purchase agreement with Enel Green Power for the long-term supply of renewable power to Sasol's Secunda site, in South Africa.

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