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CAC 40 Drifts Lower On Profit Taking

French stocks were moving lower on Wednesday as traders locked in some profits after a strong rally in the previous session.

The downside remained limited by a combination of central bank easing and hopes for a thawing in the Sino-U.S. trade dispute.

After ECB President Mario Draghi said that he was open to boosting monetary stimulus, investors now wait to see whether the U.S. central bank would follow the lead of the European Central Bank and open the door to future rate cuts.

The benchmark CAC 40 was down 10 points or 0.18 percent at 5,499 after climbing as much as 2.2 percent on Tuesday.

Renault was moving lower. The Wall Street Journal reported that alliance partners Nissan Motor Co. and Renault SA are nearing a deal to resolve a standoff over changes to Nissan's corporate governance.

Rate-sensitive banks were moving higher. BNP Paribas edged up 0.2 percent, Credit Agricole was marginally higher and Societe Generale rose 0.3 percent.

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