CAC 40 Sheds About 1.3% On Economic Concerns
(RTTNews) - French stocks are showing weakness on Friday, retreating from record highs hit in the previous session, as concerns about high tech valuations outweighed the positive news about the end of the longest government shutdown in United States history.
Also weighing down on sentiment is a statement from the White House on Thursday that last month's jobs report and inflation data would "likely never" be released.
Meanwhile, investors are digesting the data showing an increase in France's consumer price inflation.
The benchmark CAC 40 was down 105.91 points or 1.29% at 8,126.58 a few minutes ago.
Airbus is down nearly 3%. Stellantis, STMicroElectronics, Societe Generale and Thales are declining by 2 to 2.6%.
Dassault Systemes, Publicis Groupe,Orange, Saint Gobain and Veolia Environment are down 1.8 to 2%.
Safran, Unibail Rodamco, Eurofins Scientific, Capgemini, BNP Paribas, Renault, Accor, Michelin, Carrefour and Legrand are lower by 1 to 1.6%.
Data from INSEE showed the annual inflation rate in France was revised lower to 0.9% in October from a preliminary estimate of 1% and compared to 1.2% in September. Compared to September, the CPI edged up 0.1%, following a 1% drop. Meanwhile, annual core inflation slowed to 1.2% from 1.3%.
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