The Paris CAC 40 climbed 0.9% to a six-week high of 7,967 on Wednesday, recovering from earlier losses as gains in pharmaceuticals and steel led the market higher. An agreement between Pfizer and the Trump administration to allow patients to purchase discounted prescription drugs through a new federal website drove the pharma sector and lifted Sanofi which rallied 8.4% and Eurofins Scientific which advanced 2.1%. The European Commission said it would cut steel import quotas by nearly 50% and impose tariffs of up to 50% on imports above the quotas to curb excess capacity in countries such as China, a measure that sent ArcelorMittal up 5.3% on the news. On the macro front Eurozone inflation came in roughly in line with expectations and was slightly above 2% which reinforced market bets that the European Central Bank will keep interest rates unchanged.