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CAC 40 Modestly Higher As Syria Jitters Ease

French stocks were modestly higher on Friday as geopolitical worries faded and the dollar index rose on hopes for improved corporate earnings ahead of reports from JPMorgan Chase & Co, Citigroup and Wells Fargo & Co.

The benchmark CAC 40 was up 9 points or 0.16 percent at 5,318 in opening deals after gaining 0.6 percent the previous day.

Cosmetics and beauty products giant L'Oreal edged up half a percent after its first-quarter sales grew 6.8 percent on an organic basis.

Alstom rose over 1 percent. A consortium led by the company has signed a contract with CDPQ Infra to deliver a complete automatic and driverless light metro system for the Réseau express metropolitan project in Montreal, Canada.

Saint-Gobain was little changed after it acquired the pharmaceutical business of Ireland-based Micro Hydraulics for an undisclosed amount.

Klepierre shares rallied 2.3 percent. The real estate investment trust has decided to drop a bid for U.K. mall owner Hammerson.

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