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CAC 40 Edges Higher In Cautious Trade

French stocks were moving higher on Thursday as dovish remarks from the U.S. Federal Reserve Chairman Jerome Powell reignited hopes of a U.S. rate cut later this month.

Underlying sentiment, however, remains cautious after the Trump administration said it would investigate whether a French plan to impose a tax on American technology giants like Facebook and Google amounts to an unfair trade practice.

The benchmark CAC 40 was up 12 points or 0.21 percent at 5,579 after closing 0.1 percent lower on Wednesday.

Supermarket chain Carrefour edged down slightly after it agreed to sell the entire share capital of Cargo Property Assets to Argan.

In economic releases, France's inflation accelerated as initially estimated in June on services costs, final data from the statistical office Insee showed. Consumer price inflation rose to 1.2 percent from 0.9 percent in May.

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