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CAC 40 Slips On Rate Worries
(RTTNews) - French stocks were subdued on Thursday after Fed Chair Jerome Powell once again signaled bigger interest-rate hikes, saying the U.S. central bank was wrong in initially thinking inflation was only the result of "transitory" factors.
Weaker-than-expected inflation data from China also pointed to a sluggish economic recovery in the country.
Meanwhile, France's payroll employment increased in the fourth quarter reflecting the improvement in the private sector job creation, final data from the statistical office INSEE showed earlier today.
Overall payroll employment grew 0.2 percent or 44,000 in the fourth quarter. This was slower than the 0.3 percent or 84,100 jobs created in the third quarter.
The benchmark CAC 40 was down 17 points, or 0.2 percent, at 7,308 after declining 0.2 percent on Wednesday.
Eutelsat gained about 1 percent after it signed a multi-orbit agreement with Intelsat to enhance connectivity solutions over Europe, the Middle East, and the Pacific, including OneWeb services.
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