French shares surge on Wall Street euphoria

Paris - Invigorated by a very strong rebound on Wall Street overnight, French shares were up sharply in early Wednesday trading on the Paris Bourse.

At mid-morning, the CAC 40 index had risen by a healthy 5.36 per cent, to 3,281.98, with advancing issues racing ahead of losers by 19 to 1.

Building-materials producer Saint Gobain led the winners, rising by nearly 15 per cent, to 27.70 euros, despite a government announcement on Tuesday that housing starts and building permits had fallen sharply in the third quarter.

The only dark lining in the silver cloud was banking stock, with Societe Generale off by 4.3 per cent, at 31.90 euros, and BNP Paribas losing 1.83 per cent, to 48.40 euros. (dpa)

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