French Stocks Rise On Weak Oil, Lower Yields Post-Fed Rate Hike

(RTTNews) - French stocks gained some ground in positive territory on Thursday thanks to weak oil prices and lower bond yields after the Federal Reserve's 25-basis point interest rate hike. Brent crude futures dropped to a low of $103.34 before recovering to $103.70, still down by over 2% from previous close. U.S. Treasury yields declined in European trade, reflecting markets' increased trust in the Federal Reserve's resolve to bring inflation under control. The benchmark CAC 40, which advanced to 8,189.23, was up 30.37 points or 0.37% at 8,170.96 a few minutes ago. Renault, which ended weak on Wednesday, turned positive today and gained nearly 3%. Stellantis moved up 2.3% and Eurofins Scientific climbed 2.1%. Schneider Electric gained about 1.