French stocks hit year high on US optimism

Share prices on the French Stock Exchange surged by well over 2.0 percent Thursday on the backs of renewed optimism about the ability of the US Administration and Congress to resolve the problem of impending default. The CAC 40 Index of premium stocks rose 2.21 percent to close at 4,218.11 points, the highest level since the beginning of the year. Traders at Boursorama Brokerage said the Paris market is "doing very well" and was "buoyed by optimism" after there were indications the US House of Representatives was seeking a temporary budget measure to prevent a default in the US as a result of the government shutdown. Trading was brisk here Thursday, as over USD 4.7 billion (Euros 3.5 billion) changed hands during the day. Meanwhile, oil prices were also gaining ground in the more optimistic climate, rising around 2.0 percent in daily trading. The Euro was firm in Paris Thursday and was quoting at 1.3537, up 0.13 percent.