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CAC 40 Drifts Lower On China Growth Concerns, Inflation Worries
(RTTNews) - French stocks fell on Tuesday amid China growth concerns and lingering worries surrounding inflation and interest-rate rises.
The benchmark CAC 40 was down 60 points, or 0.8 percent, at 7,289 after closing 0.1 percent higher the previous day.
Banks BNP Paribas and Credit Agricole fell around 1 percent each as bond yields across Europe jumped on data showing U.K. wage growth hit a record in the three months to June.
U.K. wage growth accelerated at the strongest pace on record in the second quarter, adding to worries for the Bank of England about long term inflation pressures.
The euro remained on defensive mode ahead of U.S. retail sales data due later in the day and Wednesday's release of the minutes from the Fed's latest policy meeting.
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