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Market Update: French Shares Gain for 4th Straight Session
The CAC 40 resumed its upward trend and closed 13 points or 0.2% higher at a near 21-year high of 6,653, in a choppy session for European markets, riding a cautiously optimistic sentiment ahead of the Federal Reserve monetary policy statement and Chairman Powells press conference later in the day. The index received support from travel & leisure stocks after the EU added the US to its safe travel list. On the other hand, the drop in benchmark yields in bonds has weighed down on banking shares, such as Societe Generale (-2.4%), Credit Agricole (-1.6%), and BNP Paribas (-1.3%). The best performer of the index was Worldline, which gained 2.0% after Goldman Sachs added the French payments firm to its preferred stock list. [/s2If]
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