CAC 40 Slides On China COVID Curbs
(RTTNews) - French stocks edged lower on Tuesday after China started reintroducing strict pandemic curbs to fight a spike in COVID cases across several cities.
The new curbs dented hopes that the country will finally be ready to reopen soon.
The benchmark CAC 40 dropped 11 points, or 0.2 percent, to 6,623 after closing 0.2 percent lower on Monday.
The euro edged up against the dollar in cautious trade in the wake of mixed commentary from ECB policymakers on the rate hike path.
Societe Generale shares fell about 1 percent. The financial services company has joined hands with AllianceBernstein (AB), an investment management and research firm, to form a joint venture to accelerate growth in cash equities.
In the JV, the companies will combine their cash equities and equity research businesses.
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