CAC 40 Extends Gains On Trade Optimism

(RTTNews) - French stocks rose notably on Wednesday as China services industry data beat expectations and the Financial Times reported the United States and China have made headway in trade talks.

Investors also watched Brexit headlines, with reports suggesting that British Prime Minister Theresa May will ask the EU for an extension to the Brexit deadline to "break the logjam" in Parliament.

In economic releases, Eurozone PMI services was revised up from 52.7 to 53.3 in March, while the region's retail sales grew 0.4 percent in February versus 0.3 percent growth expected.

The benchmark CAC 40 was up 39 points or 0.72 percent at 5,462 in opening deals after rising 0.3 percent in the previous session.

Automakers Renault and Peugeot were up around 2 percent as tariff worries eased.

Total SA rose half a percent after signing a term LNG sale and purchase agreement with Guanghui.

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