Around the World's Markets: Paris

Saturday 04 December 1999 00:02 GMT

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FRENCH STOCKS shot to new records yesterday, boosted by US payroll data showing low wage inflation which eased fears of a US rate hike. The blue-chip CAC-40 closed up 2.13 per cent at 5,468.05, a new closing high, after setting a peak of 5,471.64. The Eurotrack 100 closed up 113.9 at 5,468.0.

The rally was led by techs and telecoms stocks, which benefit from expectations of low interest rates. Alcatel, France's telecoms equipment leader, jumped 8.91 per cent on brokers' upgrades.

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