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CAC 40 Edges Higher As Investors Await Yellen's Comments

French stocks were moving higher on Tuesday as investors looked to comments from U.S. Treasury Secretary nominee Janet Yellen on U.S. stimulus at the Senate confirmation hearing later today.

According to a copy of her prepared remarks. Yellen will call on the federal government to "act big" to ramp up the recovery.

Investors also remain hopeful that economic growth in China will help support growth in the Asian region.

The benchmark CAC 40 inched up 12 points, or 0.2 percent, to 5,629 after rising 0.1 percent on Monday.

Sanofi advanced 1.6 percent. The pharmaceutical company said that U.K.'s Medicines and Healthcare Products Regulatory Agency has granted a Promising Innovative Medicine to nirsevimab.

Speed-train maker Alstom rallied 3.3 percent after confirming full-year outlook and mid-term 2022/23 guidance.

Automakers were moving lower after industry data showed Europe's new car registrations continued to fall in December.

Car registrations were down 3.3 percent on a yearly basis, but slower than the 12 percent fall logged in November.

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