French stocks declined on Thursday as investors fretted about a worsening energy crisis in Europe.
The U.K. is already in the throes of a full-year recession, while Europe is facing a tough winter and rising credit risk, according to S&P Global Ratings.
Sweden’s coast guard has discovered a fourth gas leak on the damaged Nord Stream pipelines, heightening energy security concerns.
In economic releases, a measure of economic sentiment in the euro area deteriorated again in September, the European Commission said.
The corresponding index – an aggregate measure of business and consumer confidence—dropped to 93.7 from 97.3 in August, the lowest reading since November 2020, weighed by high inflation and a darkening economic outlook.
The benchmark CAC 40 was down 88 points, or 1.5 percent, at 5,676 after closing 0.2 percent higher the previous day.
CAC 40 Retreats Amid Energy Woes
2022-09-29 09:20:26
