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CAC 40 Gains As Inflation Slows
(RTTNews) - French stocks advanced on Wednesday as data showed inflation in the country unexpectedly slowed in December from a record high in the previous month.
France's EU-harmonized inflation rate fell to 6.7 percent in December from 7.1 percent in November, INSEE said.
Meanwhile the final purchasing managers index (PMI) for France's services sector rose to 49.5 points in December, slightly up from 49.3 points in November.
The benchmark CAC 40 jumped 93 points, or 1.4 percent, to 6,712 after rising 0.4 percent on Tuesday.
Sanofi shares rose half a percent. The healthcare firm said it expects a boost from foreign exchange movements and flu vaccine sales in its fourth-quarterly results, due to be published next month.
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Yen Slides Against Majors
The Japanese yen weakened against other major currencies in the European session on Tuesday.
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