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CAC 40 Retreats As Oil Dips From Recent Highs

French stocks were moving lower on Friday as the dollar index eased from its 2018 high against a basket of six global currencies and oil prices also dipped from recent highs on expectations that alternative supplies could replace a looming drop in Iranian exports from U.S. sanctions.

The benchmark CAC 40 was down 23 points or 0.41 percent at 5,523 in opening deals after closing 0.2 percent higher in the previous session.

Air France KLM jumped 2.2 percent after unveiling April traffic figures.

Saint-Gobain advanced 2.7 percent after it acquired all outstanding shares of SWH from the Burkard family for a purchase price of 3.22 billion Swiss francs.

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