Schneider Electric was among the few losers, however, closing down on the day, after the EU refused to approved its merger with Legrand, dealers added. The CAC-40 index finished up 142.41 at 4,319.38 Volume for the day was 3.68 bln euro. The market is not being very discerning at all. Another dealer said the lack of volume was distorting the gains seen today.
Volumes are modest.
In the TMT sector, media stocks saw some of the sharpest gains for the second consecutive session. Dealers said the sector remains one of the most undervalued on the market, which explained the investor rush to buy. Lagardere was one of the day's biggest gainers, closing up 2.80 eur or 8.04 pct at 37.64 after hitting a high of 38.44. In the last week, Lagardere shares have risen around 14 pct in stark contrast to TF1 which has seen its share price soar by more than 39 pct. TF1 meanwhile extended gains seen yesterday, up 2.41 or 9.63 pct to 27.44.