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CAC 40 Rises On Growth Optimism

French stocks rose modestly on Monday as strong U.S. jobs data released last week coupled with encouraging data releases from Germany and France helped boost investor confidence in the global economy.

The benchmark CAC 40 was up 24 points or 0.44 percent at 5,399 in opening deals after closing 0.2 percent higher on Friday.

Elior Group advanced 1.5 percent. The operator in the catering and support services has launched an offer to purchase minority interests of Elior North America.

Air France KLM soared almost 8 percent after reporting 4.5 percent growth in passenger traffic for June.

Carmaker Renault dropped 1.6 percent after its partner Nissan Motor said it would hold a press conference regarding procedures to measure vehicle exhaust gas at its domestic plants.

In economic releases, France's economy is set to expand as previously estimated in the second quarter, according to a monthly survey from Bank of France.

The central bank forecast 0.3 percent growth for the second quarter, the same rate as estimated previously.

Elsewhere, German exports grew by more-than-expected 1.8 percent on a monthly basis in May, reversing a 0.3 percent drop in April, figures from Destatis showed. Shipments were expected to gain only 0.7 percent.

Separately, survey data from think tank Sentix revealed that Eurozone investor sentiment improved in July after a sharp slide in June. The investor confidence index rose unexpectedly to 12.1 from 9.3 in June. The expected score was 9.0.

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