CAC 40 Slides On Fed Worries
(RTTNews) - French stocks fell sharply on Friday after two Federal Reserve officials signaled they favor returning to bigger interest-rate hikes in the future to tame inflation.
Hotter-than-expected wholesale inflation data also added to pressure on the Fed to keep rates high.
The benchmark CAC 40 was down 87 points, or 1.2 percent, at 7,279 after climbing 0.9 percent in the previous session.
Safran S.A. dropped 1 percent. The maker of aircraft engines and related equipment posted net loss for 2022 amidst higher foreign exchange losses and other operating expenses.
Air France-KLM shares jumped 9 percent after the airline reported robust bookings for 2023 and forecast higher margins.
EDF Group SA, an electric utility, edged up slightly despite reporting a loss for fiscal 2022, compared to prior year's profit.
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