CAC 40 Modestly Higher On Economic Optimism

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(RTTNews) – French stocks eked out modest gains on Thursday after robust U.S. data released overnight pointed to continued economic strength in the world’s largest economy.

The dollar consolidated after hitting 16-month highs as the minutes from the last Federal Reserve meeting pointed to the potential of a faster tapering pace.

Euro zone bond yields dipped for the first time in three sessions as focus shifted to the ECB, which will publish the accounts of its October meeting later in the day.

The benchmark CAC 40 rose 24 points, or 0.3 percent, to 7,066 after ending marginally lower the previous day.

Remy Cointreau shares jumped almost 11 percent to a record high.

The wine and spirits company raised full-year profit outlook after first-half net profit attributable to the Group climbed 106.1 percent to 134.0 million euros from last year’s 65 million euros.

Banks traded broadly lower, with Credit Agricole losing 1 percent.