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CAC 40 Rises On U.S.-China Trade Deal Hopes

French stocks were moving higher on Thursday as investors awaited the resumption of U.S.-China trade talks and looked for fresh signals from the Federal Reserve about the chances of further rate cuts.

While prospects for progress in trade talks dimmed, media reports suggest that both sides are considering an "interim" deal that could see a tariff increase next week suspended.

Meanwhile, investors shrugged off data from the statistical office Insee showing that France's industrial production declined unexpectedly in August on weak manufacturing and mining.

Industrial production fell 0.9 percent on a monthly basis, reversing a 0.3 percent rise in July. Output was forecast to rise 0.2 percent.

The benchmark CAC 40 was up 20 points, or 0.36 percent, at 5,519 after gaining 0.8 percent on Wednesday.

Luxury goods makers rallied, with shares of LVMH surging almost 5 percent after the Louis Vuitton owner posted higher-than-expected third quarter sales, despite the negative impact of protests in Hong Kong. Gucci-owner Kering climbed 3.3 percent.

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