CAC 40 Edges Higher As ECB Rate Decision Looms

(RTTNews) - France's equity benchmark CAC 40 edged higher on Thursday, after having dropped to a three-month low in the previous session. The mood in the market remained cautious as investors awaited the European Central Bank's monetary policy announcement.

Oil's continued rise amid the ongoing conflict in the Middle East weighed a bit on sentiment. Brent crude futures climbed to $102.72 a barrel before dropping to around $102.10, still up more than 0.8% over previous close.

The ECB is widely expected to raise key interest rates later today after pausing in July. The central bank President Christine Lagarde's comments and updated economic forecasts will be in focus.

The CAC 40 was up 21.65 points or 0.17% at 8,178.32 a little while ago.

Societe Generale moved up 1.5% and Orange gained about 1.3%. Airbus, Euronext, Hermes International, Engie, AXA, BNP Paribas, Schneider Electric and Accor advanced 0.5%-1%.

Pernod Ricard dropped 1.7%. EssilorLuxottica and L'Oreal shed 1.2% and 1.1%, respectively.

Danone, Eiffage, LVMH, ArcelorMittal, Sanofi, Bouygues, Unibail Rodamco and Vinci drifted down 0.3%-1%.