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CAC 40 Up 76 Points As Fears Ease About China Virus

French stocks were sharply higher in early trade on Friday after the World Health Organization (WHO) said the coronavirus outbreak in China did not yet constitute a global public health emergency.

Investors shrugged off flash survey data from IHS Markit showing that France's private sector grew at the slowest pace in four months in January.

Although service providers continued to outperform manufacturers, the former saw activity growth ease to the weakest in four months, the survey showed.

The flash composite output index fell to 51.5 in January from 52.0 in December. The services PMI came in a 51.7, down from 52.4 a month ago, while the manufacturing PMI rose more-than-expected to 51.0 from 50.4 in December.

The benchmark CAC 40 was up 76 points, or 1.27 percent, at 6,047 after declining 0.7 percent the previous day.

Rémy Cointreau shares slumped as much as 9 percent. After reporting a sharp fall in third-quarter sales, the spirits group said it has decided to hold off on the previously provided annual and mid-term objectives.

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