CAC 40 Slips Into Red In Lackluster Trade

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(RTTNews) – French stocks fell on Monday as a stronger-than-anticipated U.S. jobs report released on Friday revived worries about the pace of U.S. rate hikes.

Meanwhile, latest PMI data released by S&P Global showed little change to the initial estimates that showed business activity across France’s service sector fell in November, marking the first contraction since March 2021.

The composite PMI came in at 48.7 versus 48.8 preliminary. The final services PMI dropped to 49.3 versus the flash estimate of 49.4.

The benchmark CAC 40 was down 12 points, or 0.2 percent, at 6,730, recouping some early losses.

The euro hit a fresh six-month high against the dollar on concerns about a widening policy gap between the U.S. and Europe.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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