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CAC 40 Edges Higher As Business Activity Improves
(RTTNews) - French stocks were slightly higher on Friday after a survey showed business activity in the country grew more than expected in April.
The flash reading for the April composite PMI - which comprises both the services and manufacturing sectors - rose to 53.8 points from 52.7 points in March. Economists had forecast the reading to remain unchanged at 52.7.
The manufacturing PMI fell to 45.50 from 47.30 in March while the services PMI improved to 56.30 from 53.90 in March.
The benchmark CAC 40 was up 15 points, or 0.2 percent, at 7,553 after closing 0.1 percent lower the previous day.
The dollar headed for its first weekly gain in nearly two months amid bets that the Federal Reserve will increase interest rates in May.
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