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CAC 40 Climbs On US-China Trade Optimism

French stocks rose on Tuesday to extend gains from the previous session, as investors remained hopeful that the U.S. and China might be able to reach a trade deal before a March 1 deadline.

Sentiment also got a boost after U.S. congressional negotiators reached an agreement to avoid another government shutdown.

The benchmark CAC 40 was up 39 points or 0.78 percent at 5,053 in opening deals after rallying 1.1 percent on Monday.

Banks BNP Paribas, Credit Agricole and Societe Generale were up between half a percent and 1 percent.

Tire maker Michelin Cie Des Estb soared 10 percent after its sales for fiscal year 2018 rose 4.1 percent at constant exchange rates.

Luxury goods company Kering rose 0.8 percent as its FY18 profit more than doubled.

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