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CAC 40 Rises As Omicron Worries Ease

French stocks were moving higher on Monday after initial reports suggested that the Omicron coronavirus variant might not have as much impact on the global economy as feared.

Top French ministers will hold a health council meeting on the Covid-19 health crisis today to discuss responses to the fifth wave of Covid-19 currently raging in the country.

Chinese Premier Li Keqiang's comments on cut in reserve requirement ratios also helped underpin investor sentiment.

The benchmark CAC 40 was up 0.6 percent at 6,805 after closing 0.4 percent lower on Friday.

Plane maker Airbus SE advanced 1.6 percent. The company announced that The Helicopter Company, the first and only helicopter services provider in Saudi Arabia, has signed a second purchase agreement with Airbus Helicopters.

Construction materials company Saint-Gobain gained 1.2 percent after announcing it would buy U.S.-based GCP Applied Technologies in a deal valued at around $2.3 billion.

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