French stocks retreated on Tuesday amid signs that Europe is once again becoming the epicenter of the Covid-19 pandemic, bringing lockdowns back to some regions.
Rate-hike concerns also dented sentiment, with investors now betting on an ECB rate hike next year to cool off inflation.
In economic releases, French business activity expanded at a faster-than-expected pace in November, initial estimates in a monthly survey showed.
The benchmark CAC 40 fell 92 points, or 1.3 percent, to 7,013 after closing 0.1 percent lower the previous day.
Banks BNP Paribas, Credit Agricole and Societe Generale fell between 0.8 percent and 1.5 percent while automaker Renault dropped 1.4 percent.
Telecom company Orange SA rose 0.6 percent. Its subsidiary Orange Belgium announced it was selected by Nethys to enter into exclusive negotiations for the acquisition of 75 percent of the capital minus one share of VOO SA.
CAC 40 Retreats On Covid-19 Worries
2021-11-23 09:31:39
