French stocks fell on Wednesday as weak industrial production and retail sales data from China heightened investor concerns about slowing global growth.
China’s retail sales grew only 2.5% on an annual basis in August. This is much weaker than the expected 7% growth, as July’s 8.5% growth and the outbreak of delta variants weighed on consumption.
Industrial production increased moderately in August to 5.3% year-on-year, but slower than economists’ forecast of 5.8% due to the 6.4% increase seen in July and rising supply chain bottlenecks and raw material costs. ..
The benchmark CAC 40 index fell 11 points (0.2%) to 6,642 after dropping 0.4% in the previous session.
Travel and leisure inventories fell, with Franco Dutch Airlines holding company Air France-KLM down 1.3%.
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CAC 40 slides on growth concerns
Source link CAC 40 slides on growth concerns