CAC 40 Edges Lower On Growth Concerns
(RTTNews) - French stocks edged lower on Wednesday, with disappointing trade data from China and concerns over a possible recession in the United States keeping investors nervous ahead of key central bank meetings next week.
Meanwhile, France's foreign trade deficit increased at the start of the second quarter as exports fell amid a rise in imports, data from the customs office showed earlier today.
The trade deficit rose to EUR 9.71 billion in April from EUR 8.39 billion in March while the expected shortfall was EUR 7.7 billion.
In the corresponding month of 2022, the deficit totaled EUR 13.3 billion.
Exports decreased 1.0 percent from the previous month, while imports advanced by 1.4 percent.
On a yearly basis, exports were 8.2 percent higher in April. At the same time, imports registered a slower increase of 0.2 percent.
Elsewhere, data from the Bank of France showed that the current account balance showed a deficit of EUR 0.1 billion in April versus a surplus of EUR 0.3 billion in March, due to the rise in the energy bill.
The benchmark CAC 40 was down 22 points, or 0.3 percent, at 7,186 after inching up 0.1 percent the previous day.
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