CAC 40 Modestly Higher As UK Election Gets Underway

French stocks eked out modest gains in cautious trade on Thursday as investors awaited a policy meeting by European Central Bank (ECB) and the outcome of the U.K. election, with polls predicting a narrow Conservative win.

Christine Lagarde runs her first ECB meeting since taking over as president from Mario Draghi and it remains to be seen whether she will abandon the central bank's ultra dovish stance.

Earlier today, the Swiss National Bank held interest rates at rock bottom and reiterated its intervention threat.

Meanwhile, as a Sunday deadline for U.S. tariffs on Chinese imports approaches, there is little clarity as to whether planned U.S. tariff increases will take effect.

The benchmark CAC 40 was up 17 points, or 0.3 percent, at 5,878 after closing up 0.2 percent the previous day.

LÓreal shares rose about 1 percent. The personal care company and Italian luxury fashion house Prada have announced signing of a long-term license agreement to create, develop and distribute luxury beauty products for the Prada brand.

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