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CAC 40 Inches Higher As Banks Climb Ahead Of Fed Decision
(RTTNews) - French stocks were moving higher on Wednesday as investors await the FOMC interest-rate decision later in the day.
The Federal Reserve may opt to maintain its current interest rates despite inflation remaining at levels above target range.
Focus will be on Fed Chair Jerome Powell's comments on inflation and the economy. The benchmark CAC 40 was up 25 points, or 0.4 percent, at 7,307 after finishing marginally higher the previous day.
Banks traded higher, with BNP Paribas, Credit Agricole and Societe Generale rising between 0.9 percent and 1.3 percent.
Automaker Renault was marginally higher after data showed EU car sales grew 21 percent in August.
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