CAC 40 Edges Higher Ahead Of FOMC Meeting

French stocks traded slightly higher on Tuesday ahead of the release of U.S. consumer price inflation report later in the day and Wednesday’s Fed policy decision.

The benchmark CAC 40 was up 13 points, or 0.2 percent, at 7,565 after gaining 0.3 percent on Monday.

Sanofi dropped half a percent after announcing it will terminate a licensing agreement with U.S. biotech Maze Therapeutics for an investigational Pompe disease treatment candidate.

Saint-Gobain rose half a percent. The manufacturing company has signed a renewable electricity supply agreement with CVE, a French renewable energy producer, to secure about 140 GWh of solar electricity in South Africa, over a 20-year period.

Automaker Renault declined 1.5 percent after saying it would sell 5 percent tranche of Nissan stake under a share buyback program.

Energy firm TotalEnergies added half a percent after it acquired three start-ups as part of its efforts to accelerate its development in the electricity business.

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