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CAC 40 Gains On China Stimulus Hopes
(RTTNews) - French stocks opened higher on Friday amid hopes that China will unveil more economic stimulus measures to kickstart its ailing economy.
Investors also remain hopeful that the U.S. Federal Reserve will not follow through with more rate hikes.
Earlier in the day, the Bank of Japan maintained its ultra-easy monetary policy and signaled no change to its quantitative easing and yield curve control policies.
The benchmark CAC 40 was up 48 points, or 0.7 percent, at 7,338 after losing half a percent the previous day.
China-related stocks were moving higher, with LVMH and Hermes International both rising around 1 percent.
Eurozone final inflation data for May is awaited later in the day. Eurostat is expected to confirm 6.1 percent inflation for May, which was slower than April's 7.0 percent.
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