CAC 40 Slumps On China COVID Concerns

RTTNews | 881日前
CAC 40 Slumps On China COVID Concerns

(RTTNews) - French stocks slumped on Tuesday after the Bank of Japan widened its target band for interest rates - a move that analysts said would allow long-term interest rates to rise more.

Sentiment was also dented by reports of a widespread wave of new coronavirus cases in China, with a top infectious disease expert projecting that more than 60 percent of China's population is likely to be infected by the coronavirus in the next three months.

The benchmark CAC 40 was down 78 points, or 1.20 percent, at 6,395 after closing 0.3 percent higher on Monday.

Orange SA shares fell more than 1 percent. The telecom group said in a statement that its deputy chief executive and head of finance, Ramon Fernandez, would leave the company at the end of the first quarter of 2023.

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China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China's industrial production increased more than expected in April despite trade tariff hikes and the unemployment rate dropped marginally but growth in retail sales fell short of expectations signalling weaker domestic demand, official data revealed on Monday. Industrial output logged an annual growth of 6.1 percent in April after rising 7.7 percent in March.
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Australian Market Halves Early Losses In Mid-market

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