Europe midday: CAC eyes record as shares rise on US retail sales
European stocks were higher as France's CAC 40 sat below the summit of a record high and Britain’s FTSE 100 passed the 8,000 mark again, with cheered better-than-expected US retail sales helping sentiment.
The CAC was up 0.87% to 7364.9 points, within touching distance of the 7,384.86 hit in January 2022, while the FTSE index was up 0.12% at 8007.
All the good news helped lift the pan-regional Stoxx 600 index 0.42% to 466 at 1149 GMT, with other major bourses also higher. In the US, retail sales rose 3% against expectations for a 1.8% rise and despite the cost-of-living crisis.
In equity news, shares in French IT group Atos surged after the company said it had received an indicative offer from Airbus for Atos' minority stake of 29.9% in Evidian, adding that its board had decided to continue talks in view of a deal.
"Atos does not intend to grant any exclusivity to Airbus, and no assurances can be made that the parties will successfully negotiate and enter into a definitive set of agreements," Atos said in a statement.
British Gas owner Centrica also rose sharply after recording annual profits of £3.3bn.
French drinks maker Pernod Ricard shares gained as the company posted forecast-beating first-half profit and sales, helped by price increases in its key Chinese and US markets.
Banks were also in focus with Standard Chartered shares up as the Asia-focused bank reported a 28% rise in annual pretax profit and unveiled a new $1bn share buyback program.
Germany's Commerzbank also gained as net profit rose a better-than-expected 12% in the fourth quarter.
Reporting by Frank Prenesti for Sharecast.com