French stocks were moving lower on Wednesday as weak industrial output and retail sales data from China reinforced investor worries about slowing growth globally.
China’s retail sales grew only 2.5 percent on a yearly basis in August – much weaker than July’s 8.5 percent growth and the expected rate of 7 percent as the outbreak of Delta variant weighed on consumption.
Industrial production grew moderately by 5.3 percent year-on-year in August, but slower than the 6.4 percent increase seen in July and the economists’ forecast of 5.8 percent amid supply chain bottlenecks and higher raw material costs.
The benchmark CAC 40 index slid 11 points, or 0.2 percent, to 6,642 after declining 0.4 percent in the previous session.
Travel and leisure stocks declined, with Franco-Dutch airline holding company Air France KLM falling 1.3 percent.
CAC 40 Slides On Growth Worries
2021-09-15 09:05:49
