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CAC 40 Declines On Growth Worries
(RTTNews) - French stocks fell on Tuesday amid growth concerns after a survey showed business activity in the country grew at the slowest pace in four months in May.
The flash reading for the May composite PMI - which comprises both the services and manufacturing sectors - fell from 52.4 to 51.4 - marking the lowest level since a January reading of 49.0. Economists forecast a reading of 52.0 points.
U.S. debt ceiling worries and signs of increasing Sino-U.S. tensions also kept investors nervous.
The benchmark CAC 40 was down 0.8 percent at 7,416 after closing 0.2 percent lower the previous day.
Lender Societe Generale jumped 2.4 percent after the lender confirmed the launch of a global employee share ownership program.
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