CAC 40 Struggles For Direction In Lackluster Trade
(RTTNews) - French stocks struggled for direction on Wednesday after European Central Bank Vice President Luis de Guindos said the euro zone is facing weak growth and a possible recession.
De Guindos said that economic weakness was broad-based, with construction and manufacturing hit particularly hard and services likely to follow in the coming months.
Meanwhile, French industrial output rebounded in November, offering some bright news. Data released earlier today showed French industrial production rose 0.5 percent from the month before in November.
The benchmark CAC 40 was little changed at 7,430 after losing 0.3 percent the previous day.
In corporate news, CGG rose about 1 percent after projecting a rise in the full-year segment revenue.
Aircraft manufacturer Airbus added half a percent following a deluge of bad news concerning Boeing's 737 Max jets.
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