Around the World's Markets: Paris

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THE blue-chip CAC-40 index closed up 35.41 points at 3,950.94. Stocks closed higher after a brief consolidation in the morning, lifted by another bout of M&A rumours, scrappy buying in underperformers and small early gains on the Dow. .

Operators said that talk of co-operation between Dresdner Bank and Credit Suisse First Boston had stirred up some buying in the banks again, with BNP the main beneficiary from rumours of a Dresdner/CSFB tie-up