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CAC 40 Edges Higher As European Commission Sees Stronger Growth
(RTTNews) - French stocks were moving higher on Monday ahead of a busy week of earnings, economic data releases and speeches by Federal Reserve officials.
The euro was trading higher after the European Commission, the executive arm of the EU, said that Eurozone economic growth will be faster than previous forecast this year and next.
In its regular forecast for the 20 countries that share the euro, the EU executive also raised its forecasts for inflation in the region and warned of tighter financing conditions.
The benchmark CAC 40 was up 33 points, or 0.4 percent, at 7,447 after gaining half a percent on Friday.
Insurer Axa jumped 2.6 percent after reporting a rise in Q1 gross written premiums.
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