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CAC 40 Edges Higher On Speculation Over Fed Cuts

French stocks were moving higher on Friday as expectations of a U.S. interest rate cut helped fuel investors' appetite for riskier assets.

On the trade front, media reports quoted U.S. Treasury Secretary Steven Mnuchin as saying that U.S. and Chinese officials spoke by telephone on Thursday, potentially paving the way for in-person trade talks to resume.

The benchmark CAC 40 was up 36 points or 0.65 percent at 5,586 after declining 0.4 percent the previous day.

Saint-Gobain shares rose 0.7 percent. The company said that it had exclusive negotiations with Groupe Frans Bonhomme in connection with the sale of the French company Distribution de Matériaux pour les Travaux Publics (DMTP) for an enterprise value of 70 million euros.

In economic releases, official data showed that the euro area current account surplus rose to a seasonally adjusted EUR 30 billion in May from EUR 22 billion in April.

The surplus in trade in goods increased to EUR 27 billion from EUR 23 billion, while the surplus on services fell to EUR 5 billion from EUR 7 billion.

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