French stocks fell sharply on Monday after China released data showing that factory activity in the country contracted for a second month to its lowest since February 2020 because of Covid lockdown.
Separately, Caixin released its own manufacturing purchasing managers’ index, revealing a second straight month of deterioration.
The benchmark CAC 40 plunged 125 points, or 1.9 percent, to 6,409 after edging up 0.4 percent on Friday.
Airbus lost 1.7 percent despite receiving a large order from airline Qantas for its London-Sydney route.
Auto and luxury stocks were coming under selling pressure on concerns over slowing growth in China. Renault declined 3.3 percent and Kering gave up 2.2 percent.
Air Liquide SA, a provider of industrial gases and services, fell over 1 percent.
The company announced a joint venture with Lotte Chemical to boost the hydrogen supply chain for mobility markets in South Korea.
CAC 40 Tumbles On Weak China Data
2022-05-02 09:19:01
