BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks eked out modest gains on Wednesday, a day after Federal Reserve Chairman Jerome Powell signaled an openness to cut interest rates if necessary.
On the data front, the euro area private sector expanded more than initially estimated in May, extending the current sequence of growth to just below six years, final data from IHS Markit showed. The composite output index rose to a 3-month high of 51.8 from 51.5 in April.
A measure of Eurozone retail sales declined 0.4 percent month-on-month in April, slightly better than expectations for a 0.5 percent drop.
The benchmark CAC 40 was up 17 points or 0.32 percent at 5,285 after gaining half a percent on Tuesday.
Automaker Groupe Renault was marginally higher. The company said it would continue to study with interest the opportunity of a proposed 50/50 merger with Fiat Chrysler Automobiles N.V. (FCAU).
Deinove shares soared nearly 10 percent. The biotechnology company has announced a collaboration with Dow Inc. (DOW) for the joint development of a cosmetic ingredient derived from its collection of bacterial extracts.
Aviation company Dassault Aviation jumped 4.7 percent after Goldman Sachs upgraded its rating on the stock to 'buy'.
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