CAC 40 Slides On Inflation Concerns
(RTTNews) - French stocks traded lower on Friday after an upside revision to September inflation. According to final figures from the INSEE statistics body, the inflation figure, on an EU-harmonized basis, has been revised up to 5.7 percent from the preliminary figure of 5.6 percent.
Spanish annual inflation also stood higher for a third consecutive month at 3.5 percent, raising pressure on the European Central Bank to keep interest rates at an elevated time for some time.
The benchmark CAC 40 was down 24 points, or 0.3 percent, at 7,080 after losing 0.4 percent the previous day.
Real estate company Unibail-Rodamco-Westfield was moving lower after it received a binding offer from real estate company Frey for Polygone Riviera for a net disposal price of 272.3 million euros. The price is at a 4 percent discount to last unaffected book value.
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