French stocks were moving lower on Wednesday, as nervous investors shifted money into bonds amid renewed concerns about Russia’s escalating war on Ukraine. It is feared that the Ukraine tensions may push up the commodity prices and peg the global economic recovery.
Russian armed forces have captured the southern Ukrainian city of Kherson, RIA news agency reported earlier today.
Meanwhile, U.S. President Joe Biden accused his Russian counterpart Vladimir Putin of waging a “premeditated and unprovoked” war against Ukraine.
The benchmark CAC 40 was down 25 points, or 0.4 percent, at 6,372 after plummeting 3.9 percent on Tuesday.
Banks extended losses, with Credit Agricole and Societe Generale both falling around 2 percent.
Pharma group Biomerieux slumped 12 percent after publishing a disappointing guidance for the year.
CAC 40 Drifts Lower In Cautious Trade
2022-03-02 09:41:47
