French stocks drifted lower on Thursday after President Emmanuel Macron endorsed a temporary tax on the country’s largest companies to get the public finances back on track.
Also weighing on sentiment, a survey showed France’s services sector contracted in September, albeit less than initially expected.
The benchmark CAC 40 dropped 62 points, or 0.8 percent, to 7,514 after edging up marginally the previous day.
In corporate news, supermarket group Casino dropped half a percent after confirming it is the subject of a preliminary investigation by France’s national financial prosecution office over charges of price manipulation and corruption dating back to 2018 and 2019.
Alstom rallied 2.2 percent after receiving an order from Proxima for 12 Avelia Horizon very high-speed trains.
CAC 40 Slips Into Red As Macron Backs Temporary Tax On Large Companies
2024-10-03 09:44:02
