CAC 40 Dips After Tuesday's Strong Rally
(RTTNews) - French stocks were moving lower on Wednesday after a survey showed activity in the country's services sector expanded a bit less than initial forecast in September.
Euro zone bond yields rose, and the dollar rebounded as hawkish commentary from the Reserve Bank of New Zealand suggested that fighting inflation is still a priority for many central banks.
The benchmark CAC 40 was down 44 points, or 0.7 percent, at 5,995 after climbing 4.2 percent the previous day.
STMicroelectronics NV shares climbed 1.1 percent. The European Commission has approved, under EU State aid rules, a 292.5 million euros Italian measure to support the semiconductor manufacturer in the construction of a plant in the semiconductor value chain in Catania, Sicily.
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