French stocks were moving lower on Monday as concerns about slowing growth and persistently high inflation kept investors on edge.
Market participants were closely watching beleaguered developer China Evergrande, whose shares were suspended in Hong Kong ahead of an announcement about a major transaction.
Eurozone finance ministers will meet in Luxembourg later today, with matters including the EU’s recovery plans as well as progress on the much-delayed banking union project on the agenda.
The benchmark CAC 40 slipped 37 points, or 0.6 percent, to 6,480 after finishing marginally lower on Friday.
Banks BNP Paribas, Credit Agricole and Societe Generale fell over 1 percent while automaker Renault was down more than 2 percent.
Luxury stocks were moving lower on concerns that regulatory clampdowns and a collapse at Evergrande could hurt an already fragile Chinese economy and drag on global growth. Kering shed 0.8 percent and LVMH was down 0.3 percent.
CAC 40 Retreats On Growth Concerns
2021-10-04 09:18:39
