CAC 40 Subdued On Budget Worries
2024-12-02
2373
(fxcue news) - French stocks traded lower on Friday, a day after the country's borrowing costs rose above those of Greece for the first time amid ongoing issues in politics and a weakening economy.
Meanwhile, preliminary data showed France's harmonized inflation rate rose 1.7 percent in November from 1.6 percent in October -matching expectations and remaining well below the European Central Bank's 2 percent target. Euro zone inflation data is due later in the day.
The benchmark CAC 40 was down 12 points, or 0.2 percent, at 7,168 after adding half a percent the previous day.
Automaker Renault was moving lower on concerns that Donald Trump's tariffs may destabilize the auto industry supply chains and raise costs.
China-related LVMH and Hermes were seeing modest losses despite growing expectations for new stimulus ahead of a key policy meeting in China next month.
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