BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks were sharply higher on Thursday amid expectations that banking chaos might prompt the U.S. Federal Reserve to slow the pace of its rate hikes.
Meanwhile, the European Central Bank (ECB) meets later today, and it is likely that the central bank will not follow through with its pre-commitment of a 50-basis-point hike because of concerns about the health of Europe's banks.
The benchmark CAC 40 was up 88 points, or 1.3 percent, at 6,979 after plummeting 3.6 percent on Wednesday.
Banks BNP Paribas, Credit Agricole and Societe Generale all rose over 2 percent after Swiss lender Credit Suisse said it would borrow up to $54 billion from the Swiss central bank in what it called 'decisive action' to calm investors and boost liquidity.
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