CAC 40 Slides On Growth Jitters
(RTTNews) - French stocks were moving lower on Wednesday after data showed activity in China's services sector grew at the slowest pace in five months in June in a new sign of a weakening economy.
Closer home, a survey revealed that activity in France's dominant services sector fell in June for the first time since January.
The benchmark CAC 40 was down 34 points, or half a percent, at 7,336 after closing 0.2 percent lower the previous day.
China-exposed luxury firm LVMH fell about 1 percent, Hermes International dropped half a percent and Kering tumbled more than 2 percent on China growth jitters. Engineering & Technology company Technip Energies NV rose 0.6 percent on news that it has received a project management consultancy contract from Saudi Aramco to develop the master plan for Ras Al Khair, a new industrial city in the Eastern Province of Saudi Arabia.
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