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CAC 40 Slips As Recession Worries Mount
(RTTNews) - French stocks were moving lower on Friday as fears that the U.S. economy was heading towards recession overshadowed optimism over China's economic reopening.
The benchmark CAC 40 was down 12 points, or 0.2 percent, at 6,633 after declining around 0.2 percent in the previous session.
TotalEnergies SE declined 1.2 percent as oil prices remained on track for their biggest weekly drop in months on worries about a possible recession.
Thales fell around 1.5 percent after the Competition and Markets Authority in the U.K. found that Hitachi's anticipated purchase of Thales' rail infrastructure business could lead to higher fares in future.
The CMA is concerned that the deal could eliminate a credible competitor from the new tendering process for mainline signaling, just when both firms are expected to offer much-needed additional competition.
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