French stocks were moving lower on Friday amid concerns of slowing economic growth and rising inflation.
Growth in French manufacturing activity weakened a tad more than initially forecast in September, a survey showed earlier today.
IHS Markit’s final purchasing managers’ index (PMI) for September fell to 55.0 points from 57.5 in August as problems over supplies of goods weighed on the sector.
French inflation hit a near 10-year high of 2.7 percent in September, official data showed yesterday.
The benchmark CAC 40 dropped 50 points, or 0.8 percent, to 6,469 after losing 0.6 percent on Thursday.
Crédit Agricole S.A. fell over 1 percent. The lender confirmed that it is in talks with Holmarcom regarding a possible sale of its stake in Moroccan subsidiary, Crédit du Maroc.
Telecom major Orange SA was down 0.8 percent. The company announced an investment of 230 million euros to strengthen the development of Orange Bank.
Market Analysis
CAC 40 Slides On Inflation Worries
2021-10-01 09:16:20
