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CAC 40 Extends Gains On Hopes Of Fed Easing
(RTTNews) - French stocks rose on Friday to extend gains from the previous session as softer-than-expected U.S. inflation data fueled hopes the Federal Reserve will ease up on its interest-rate increases in the coming months.
Sentiment was also underpinned after China cut quarantine restrictions for inbound travelers and flights.
Authorities also removed a penalty for airlines for bringing in too many cases. The loosening of curbs came, a day after President Xi Jinping led his new Politburo Standing Committee in a meeting on COVID.
The benchmark CAC 40 was up 71 points, or 1.1 percent, at 6,628 after surging 2 percent the previous day.
China-exposed luxury giants were moving higher, with Kering, Pernod Ricard and Hermes International climbing 2-3 percent.
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