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CAC 40 Modestly Higher In Early Trade

French stocks were modestly higher on Friday despite mixed earnings results and fresh political uncertainty in Spain, with Prime Minister Pedro Sanchez expected to call a snap general election later in the day following a cabinet meeting.

The benchmark CAC 40 was up 24 points or 0.47 percent at 5,086 in opening deals after closing 0.2 percent lower the previous day.

Media giant Vivendi jumped 6 percent after posting strong results for its Universal Music Grouparm.

Utility EDF declined 2.8 percent after issuing a cautious outlook for 2019.

Satellite operator Eutelstat slumped 7 percent on reporting a fall in first-half net revenue.

Renault dropped half a percent and Peugeot fell as much as 2.5 percent after industry data showed that European car sales fell by 4.6 percent in January from the same month last year.

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