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CAC 40 Slips Into Red Ahead Of Central Bank Speeches

French shares drifted lower on Thursday as investors awaited earnings from big U.S. banks as well as comments from central bankers at the International Monetary Fund's (IMF) annual meeting in Washington D.C.

The benchmark CAC 40 was down 15 points or 0.28 percent at 5,347 in late opening after closing marginally lower in the previous session.

Banks retreated, with BNP Paribas, Credit Agricole and Societe Generale moving down between 0.7 percent and 0.9 percent.

Sanofi lost 1 percent on saying it would invest 170 million euros to expand a vaccine manufacturing site in Val de Reuil, France.

In economic releases, French consumer inflation rose to a five-month high of 1 percent in September, as estimated earlier, from 0.9 percent in August, final data from statistical office Insee showed. This was the fastest rate since April, when inflation was 1.2 percent.

by RTT Staff Writer

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