CAC 40 Slips Into Red On Profit Taking
(RTTNews) - French stocks declined on Thursday due to profit taking after recent strong gains.
The downside remained limited after official data showed French manufacturers' confidence improved and returned to its long-term average in December after staying stable in the previous two months.
The manufacturing sentiment index rose to a 5-month high of 100 in December from 99 in the previous month. Economists had expected confidence to fall to 98.0.
The benchmark CAC 40 was down 18 points, or 0.2 percent, at 7,565 after closing up 0.1 percent in the previous session.
Economy-sensitive stocks declined, with automaker Renault falling nearly 2 percent.
Alstom rose over 1 percent. The company has emerged as the successful bidder for a contract worth around 900 million euros to maintain the regional rolling stock VLocity and Classic fleets in Victoria, Australia for the next decade.
Sanofi SA was down half a percent after saying it is discontinuing the global clinical development program of tusamitamab ravtansine.
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