Paris shares rise, buoyed by positive corporate news flow
Friday, 12 October 2007
PARIS, Oct 11 (Newstex): Share prices were higher at midday as a raft of positive news buoyed individual stocks and lifted sentiment throughout the market.
At 1.35 pm, the CAC-40 index was up 37.0 points or 0.64 pct at 5,875.57. On the Matif, October CAC-40 futures were trading at 5,877.00.
The euro was quoted at 1.4189 usd compared to 1.4154 usd late yesterday.
Capgemini led gains on the CAC-40, rising 1.97 eur or 4.22 pct at 48.61 and extending yesterday's rally after a reassuring earnings publication from India's Infosys last night.
According to Brice Thebaud, analyst at Aurel Leven, the main factor for Capgemini was that Infosys showed 'no major slippage linked to the US sub-prime tension and financial crisis'.
Capgemini shares have been hard hit since the summer due to concerns over the impact of the sub-prime woes, notably via its Indian Kanbay unit which relies on mortgages for one third of its revenues and generates 90 pct of sales in North America.
At 1.35 pm, the CAC-40 index was up 37.0 points or 0.64 pct at 5,875.57. On the Matif, October CAC-40 futures were trading at 5,877.00.
The euro was quoted at 1.4189 usd compared to 1.4154 usd late yesterday.
Capgemini led gains on the CAC-40, rising 1.97 eur or 4.22 pct at 48.61 and extending yesterday's rally after a reassuring earnings publication from India's Infosys last night.
According to Brice Thebaud, analyst at Aurel Leven, the main factor for Capgemini was that Infosys showed 'no major slippage linked to the US sub-prime tension and financial crisis'.
Capgemini shares have been hard hit since the summer due to concerns over the impact of the sub-prime woes, notably via its Indian Kanbay unit which relies on mortgages for one third of its revenues and generates 90 pct of sales in North America.