CAC 40 Slips On Recession Worries
(RTTNews) - French stocks fell sharply on Friday as concerns over inflation and recession overshadowed a slew of positive earnings updates.
The benchmark CAC 40 fell 94 points, or 1.5 percent, to 5,992 after climbing 0.8 percent the previous day.
Cosmetics group L'Oreal slumped 4.3 percent despite posting robust sales growth over the third quarter.
Automaker Renault fell 2.3 percent after reporting a dip in Q3 auto sales, hit by supply constraints.
Rexel Group shares were down 3 percent. The energy products and services firm said that one of its entities has been placed under a formal probe related to derogation case requiring it to set aside a bank guarantee of 20 million euros and a cash guarantee of 48 million euros to be paid by January 15, 2023.
Luxury eyewear maker EssilorLuxottica tumbled 3 percent despite the company reporting a rise in third-quarter revenues.
Media company Vivendi lost about 4 percent after saying it will go ahead with the spin off its publishing business Editis.
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