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CAC 40 Rallies As Inflation Worries Ebb
(RTTNews) - French stocks rallied on Thursday to extend gains from the previous session after data showed Spanish inflation cooled to a twenty-month low in March on lower energy prices.
Inflation data from Germany and the latest figures for eurozone consumer, industrial and economic confidence are awaited.
The benchmark CAC 40 was up 76 points, or 1.1 percent, at 7,263 after rising 1.4 percent the previous day.
Among the top gainers, AXA, Alstom, BNP Paribas, Credit Agricole, Essilor Luxottica, Renault, Societe Generale and Veolia jumped 2-3 percent. The dollar and euro steadied as concerns over the banking sector receded and investors believed the U.S. rate hiking cycle is nearing an end.
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U.S. Jobless Claims Rise More Than Expected To 226,000
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Pound Rises Against Majors
The British pound strengthened against other major currencies in the European session on Thursday.
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