(RTTNews) – French stocks were moving higher on Thursday even as underlying sentiment remained cautious amid rising concerns over a global recession due to COVID-19. It’s expected that global cases of the virus will cross 1 million this week, with 50,000 fatalities.
The benchmark CAC 40 was up 16 points, or 0.38 percent, at 4,223 after declining 4.3 percent the previous day.
Total SA shares rallied more than 3 percent as oil futures surged on hopes of a
truce in the Saudi-Russia oil price war.
Food services and facilities management company Sodexo was little changed. The company has decided to establish a global Sodexo Employee Relief Program to help on-site staff, who face layoffs due to site closures.
The 30 million euros program will be funded by senior executives and the company, amid the COVID-19 pandemic.
Bouygues Group advanced 3.5 percent. The industrial group, said, based on new circumstances and the contribution of the construction businesses, the current crisis will have a significant impact on the Group’s results in 2020.