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CAC 40 Subdued As Italian Coalition Falls Apart
(RTTNews) - French stocks were subdued on Thursday amid more regional uncertainty after Italian Prime Minister Mario Draghi resigned.
Draghi resigned after key coalition allies boycotted a confidence vote, signaling the likelihood of an early election and a renewed period of uncertainty for Italy and Europe.
Meanwhile, confidence among the French manufacturers decreased as expected in July, as they were less confident about past changes in production and order books, survey data from the statistical office INSEE showed.
The business climate index for the manufacturing sector fell to 106 in July from 108 in June. That was in line with economists' forecast.
The benchmark CAC 40 slipped 0.2 percent to 6,174 after losing 0.3 percent in the previous session.
Getlink shares rose 0.6 percent. The railway company reported first-half consolidated net result of 52 million euros, compared to last year's restated loss of 124 million euros.
Sartorius Stedim Biotech jumped 8 percent. The company confirmed its FY22 outlook after reporting a 77 percent surge in first-half profit.
Thales dropped 1.3 percent. The defense and technology group announced that its aerospace unit will take a €70 million hit in 2022 due to loss of Russian business.
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