French stocks experienced a notable rise on Thursday, bolstered by the anticipation of a substantial U.S. interest rate cut later this year and budding optimism surrounding new stimulus initiatives from China, which lifted investor sentiment significantly.
The CAC 40 index climbed by 121 points, or 1.6%, reaching 7,686 after a 0.5% decline in the previous session.
Companies with strong ties to China, such as LVMH, Hermes International, and Kering, soared by 6-7%. This surge followed commitments from Chinese leaders to employ "necessary fiscal spending" to achieve this year's economic growth target of approximately 5%.
Air Liquide saw its shares increase by about 1%. The industrial gases supplier announced plans to invest nearly 60 million euros to take over and operate an Air Separation Unit (ASU) under a long-term contract with Wanhua Chemical Group, a chemical products supplier based in Yantai, China.
