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CAC 40 Slips In Cautious Trade

French stocks edged lower in cautious trade on Thursday as investors digested mixed earnings updates and looked ahead to another round of trade talks between the U.S. and China beginning in Beijing next week.

The benchmark CAC 40 was down 7 points or 0.14 percent at 5,072 in opening deals after closing 0.1 percent lower the previous day.

Advertising and public relations company Publicis Groupe slumped over 12 percent after its fourth quarter organic revenue missed estimates.

Oil and gas firm Total dropped more than 1 percent despite news that it has made a significant gas condensate discovery on the Brulpadda prospects in the Outeniqua Basin, 175 kilometers off the southern coast of South Africa.

Lender Societe Generale shed 0.8 percent after cutting its profitability targets for 2020.

Pernod Ricard rallied 2 percent. The spirits maker increased its profit guidance for its 2019 fiscal year.

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