CAC 40 Declines On US Growth Worries
(RTTNews) - French stocks opened lower on Wednesday after Wall Street's main indexes fell the most in a month overnight on the back of weak economic data and mixed earnings updates.
Encouraging earnings updates from both Microsoft and Alphabet helped limit overall losses to some extent.
The benchmark CAC 40 was down 48 points, or 0.6 percent, at 7,485 after losing 0.6 percent in the previous session.
Banks extended declines from the previous session, with BNP Paribas, Credit Agricole and Societe Generale falling between half a percent and 0.8 percent.
Aero engine maker Safran fell 2.2 percent after warning of supply chain risks.
Telecoms giant Orange rallied about 2 percent after reporting higher Q1 revenue and confirming its full-year outlook.
Food group Danone gained 1 percent after raising its 2023 sales outlook.
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