CAC 40 Slips On Growth Concerns

RTTNews | 860 days ago
Stocktwits
CAC 40 Slips On Growth Concerns

(RTTNews) - French stocks were moving lower in thin holiday trading on Friday after the World Health Organization (WHO) expressed concern over new surge in COVID-19 cases in China.

As infections surge in China, several countries including the United States, Italy and Japan, have announced plans to impose new testing rules on Chinese visitors.

Meanwhile, China has said criticism of its COVID statistics is groundless, and downplayed the risk of new variants, saying it expects mutations to be more infectious but less severe.

The benchmark CAC 40 slipped 40 points, or 0.6 percent, to 6.533 after rallying 1 percent the previous day.

Luxury firms such as LVMH, Kering and Hermes International fell around 1 percent each on concerns that surging COVID-19 cases in China would weigh on global growth.

Stocktwits
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