CAC 40 Rebounds On Hopes Of Fed Pause

(RTTNews) - French stocks rebounded on Friday amid expectations that the U.S. Federal Reserve may pause raising interest rates next year.

The focus remained on a key U.S jobs report due tonight, with economists expecting employment to increase by 205,000 jobs in November after an increase of 250,000 jobs in October. The jobless rate is expected to hold at 3.7 percent.

After Federal Reserve officials signaled a more flexible approach to policy in 2019, speculation is rife that the U.S. central bank is now equipped to pause the interest rate hike agenda after December.

The benchmark CAC 40 was up 69 points or 1.43 percent at 4,848 in opening deals after losing 3.3 percent on Thursday.

Banks BNP Paribas and Credit Agricole were modestly higher.

Automaker Renault was marginally lower. The Nikkei business daily reported that Tokyo prosecutors plan to indict former Nissan Motor Chairman Carlos Ghosn on December 10 for financial misconduct.

Energy major Total SA rose over 1 percent as OPEC leaders meet again today to discuss output cuts.