CAC 40 Slides On Growth Concerns
(RTTNews) - French stocks kicked off the final quarter of the year on a weak note Monday amid global growth worries.
French manufacturing activity contracted in September at the fastest pace since May 2020, a survey among purchasing managers showed earlier today, adding to the gloomy mood in the market.
S&P Global's final manufacturing PMI fell to 47.7 points last month from 50.6 in August, as high energy prices and global uncertainties weighed on order books.
The benchmark CAC 40 dropped 73 points, or 1.3 percent, to 5,689 after climbing 1.5 percent on Friday.
Banks BNP Paribas, Credit Agricole and Societe Generale fell 2-3 percent on concerns about Swiss lender Credit Suisse's capital levels and liquidity.
Vinci SA shares were down half a percent. Cobra IS, an arm of the French concessions and construction company, has signed two contracts in Brazil for high voltage transmission lines, following auctions organized by the National Electric Energy Agency.
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