CAC 40 Inches Higher Ahead Of Fed Meeting Minutes

French stocks advanced on Wednesday despite fears around Europe's worsening Covid-19 situation and the prospects of higher interest rates.

Underlying sentiment was underpinned after data showed French business confidence rose unexpectedly to reach the highest level since June 2007.

The benchmark CAC 40 rose 30 points, or 0.4 percent, to 7,074 after declining 0.9 percent the previous day.

Elior Group shares rallied almost 3 percent. The catering company announced new growth and profit targets for its next fiscal year after posting its best quarter since the pandemic began.

Banks BNP Paribas, Credit Agricole and Societe Generale were up between 0.6 percent and 1.2 percent.

A slew of U.S. data and minutes from the latest U.S. Federal Reserve meeting due later in the day may provide the next catalysts for market moves.

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