BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks rallied on Friday after China's central bank kept the one-year benchmark lending rate on hold at 3.7 percent, but lowered its five-year loan prime rate from 4.6 percent to 4.45 percent to revive credit demand and prop up the economy.
The benchmark CAC 40 jumped 69 points, or 1.1 percent, to 6,342 after ending 1.3 percent lower the previous day.
Banks BNP Paribas, Credit Agricole and Societe Generale gained 1-2 percent while automaker Renault jumped nearly 4 percent.
Air France-KLM shares soared 3.7 percent. The Franco-Dutch airline has entered into exclusive discussions with Apollo for a 500-million euros capital injection into an affiliate owning spare engine.
Luxury goods stocks were on the rise, with Kering climbing 1.6 percent.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
