CAC 40 Slides As Trade Gap Widens In April
(RTTNews) - French stocks traded lower on Friday after data showed the country's trade deficit increased in April as a result of increased imports and a fall in exports.
According to data released by the customs office, France's trade deficit rose to EUR 7.6 billion in April from EUR 5.4 billion in March. The expected shortfall was EUR 5.4 billion.
On a yearly basis, exports grew 0.7 percent in April, and imports logged a fall of 4.3 percent.
Focus now shifts to the key U.S. jobs data due later in the day that could influence the timing and pace of Fed rate cuts.
The benchmark CAC 40 was down 42 points, or half a percent, at 7,998 after gaining 0.4 percent the previous day.
In corporate news, Rexel Group shares dropped half a percent. The distributor of electrical products has unveiled its new and upgraded medium-term financial ambitions, ahead of its Capital Markets Day in Paris.
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