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CAC 40 Rebounds On News Of Possible Xi-Trump Meeting

French stocks bounced back on Friday amid reports of a possible meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the G20 summit in November as well as the buzz that the U.S. might not name China a currency manipulator. Strong Chinese exports data also boosted investor sentiment.

The benchmark CAC 40 was up 18 points or 0.35 percent at 5,123 in opening deals after losing 1.9 percent on Thursday.

Bargain hunters lapped up luxury stocks, with Kering rallying 3 percent and LVMH rising 1.2 percent.

In economic releases, Eurostat data showed that Eurozone industrial output rose more than forecast in August, reversing the negative trend of the previous two months.

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