CAC 40 Declines As Yields Surge
(RTTNews) - French stocks were moving lower on Friday amid lingering uncertainties around inflation and further interest-rate hikes by the U.S. Federal Reserve.
U.S. Treasury yields spiked across the curve after Richmond Fed President Thomas Barkin said it's important for the U.S. central bank to continue to raise rates to ensure if brings inflation back to the 2 percent target.
The benchmark CAC 40 was down 11 points, or 0.2 percent, at 7,178 after rallying 1 percent in the previous session.
Among the prominent decliners, Alstom, Dassault Systemes, Essilor Luxottica, Hermes International, L'Oreal, Publicis Groupe and STMicroelectronics all fell over 1 percent.
Bouygues fell about 1 percent. Its affiliate Bouygues Telecom said it disputes the ruling by the Paris Commercial Court ordering the company to pay Free Mobile 308 million euros in damages.
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