French stock exchange at highest since 2008
After nine consecutive days on the rise, the Paris Stock exchange opened 0.14 per cent up on Monday. The French Cac-40 index reached its highest level since September 2008 on Friday. The result raises hopes that Europe may at last be recovering from economic crisis.
The Paris bourse rose 16.15 ponts on Monday, like most major European markets managing to fight off fears of deflation in Europe.
In France the publication of slightly-better-than-expected financial results from companies like Renault, EDF, Société Générale and Michelin last week had no effect on investors' optimism.
The European Central Bank (ECB), which had feared risks of deflation on the European markets, announced the possiblity of low inflation in Europe.
And the icing on the cake was the publication Friday of a 0.3 per cent GDP growth in the eurozone in 2013, exceeding expectations.
France also did better than forecast with 0.3 per cent growth in 2013.
The resumption of investment and foreign trade could just be the prelude to a recovery in consumption both in France, and in Europe.
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