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CAC 40 Holds Steady On US Debt Deal Optimism
(RTTNews) - French stocks held steady on Friday after reports suggested that U.S. lawmakers are inching closer to an agreement that would raise the debt limit for about two years and cap federal spending at the same level as fiscal 2023 for two years.
The dollar eased on optimism that the U.S. government would avert a government default. The benchmark CAC 40 was up 10 points, or 0.1 percent, at 7,239 after losing 0.3 percent the previous day.
Casino plunged nearly 6 percent. The debt-ridden retailer said it was officially started court-backed negotiations with its creditors.
The dollar edged lower in European trade but was on course for its third consecutive weekly gain amid speculation that the Federal Reserve may raise rates again in June.
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