French stocks traded lower on Monday after a survey showed France’s services sector contracted sharply in September, following a strong August driven by the Olympic Games.
Investors were also reacting to Prime Minister Michel Barnier’s comments that his new government could increase taxes for big business and the wealthiest to help tackle the budget deficit.
The benchmark CAC 40 was down 37 points, or half a percent, at 7,463 after declining 1.5 percent on Friday.
In corporate news, TotalEnergies was marginally lower as it signed a pact to supply up to 1.5 million tons of more sustainable aviation fuel to Air France-KLM over a 10-year period. Shares of the latter were down more than 3 percent.
Market Analysis
CAC 40 Slides As PM Barnier Flags Tax Hikes On Wealthy
2024-09-23 09:08:35
