French stocks drifted lower on Wednesday amid inflation worries after data showed British consumer price inflation jumped to 10.1 percent in July, its highest since February 1982, intensifying the squeeze on households.
Investors await the release of minutes of the U.S. Federal Reserve’s July meeting, the Euro zone’s Q2 GDP and unemployment figures for the single currency block data later in the day for additional clues on the economic and interest-rate outlook.
The benchmark CAC 40 dropped 16 points, or 0.2 percent, to 6,576 after rising 0.3 percent in the previous session.
Banks BNP Paribas, Credit Agricole and Societe Generale were seeing modest gains while automaker Renault fell about 1 percent.
CAC 40 Slides On Inflation Worries
2022-08-17 09:09:59
