CAC 40 Rises Buoyed By M&A Cheer

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French markets eked out modest gains on Tuesday, with bargain hunting in battered stocks and some merger & acquisition news underpinning sentiment.

The benchmark CAC 40 was up 21 points or 0.40 percent at 5,304 in opening deals after losing 1.9 percent on Monday.

Eutelsat shares jumped 2.5 percent after the satellite group ruled out a bid for British firm Inmarsat.

Payments processor Ingenico soared 7 percent on a Bloomberg report that several private equity firms are setting their sights on the company.

Elior Group slumped 4 percent. The catering and support services group expects cumulative operating free cash flow for 2019-2021 to be 750 million euros.

Eurofins, a global leader in bio-analysis, rallied 6 percent after raising its revenue guidance for the year.