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CAC 40 Rises On Recovery Hopes

French stocks rallied on Friday, aided by growth optimism and a rebound in Chinese markets, thanks to liquidity infusion by People's Bank of China.

China injected 90 billion yuan ($14 billion) of funds on a net basis via seven-day and 14-day reverse repurchase agreements today, the most since February in a sign the authorities are seeking to soothe market nerves frayed by concern over China Evergrande Group's debt crisis.

The benchmark CAC 40 climbed 60 points, or 0.9 percent, to 6,682 after rising 0.6 percent on Thursday.

Franco-Dutch airline holding company Air France KLM rose about 1 percent amid expectations that England's COVID-19 rules for international travel will be relaxed later today.

Carmaker Renault was down 0.6 percent as group management and representative trade unions launched negotiations with a view to concluding a nationwide multi-year labor agreement for the period 2022-2024.

Luxury stocks rebounded, with LVMH rising 1.8 percent, Kering adding 2.8 percent and L'Oreal gaining 1.5 percent.

Beverage company Pernod Ricard jumped nearly 3 percent.

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