CAC Down 1 P.c. As Stocks Fall On Weak Manufacturing Data

(RTTNews) - French stocks are down firmly in negative territory in late morning trades on Thursday, extending early losses after data showed a sharp decline in the nation's manufacturing activity in the month of December.

The benchmark CAC 40 was down 71.41 points or 0.97% at 7,309.33.

Final data from S&P Global confirmed that the HCOB France Manufacturing PMI dropped to 41.9 in December from 43.1 in November. That marked the sharpest decline in manufacturing activity since May 2020.

Among the major losers, Kering is down 3.4%, while LVMH and Hermes International are down 2.3% and 2.5%, respectively. BNP Paribas and Edenred are down 2.1% from their previous closing levels.

L'Oreal, Societe Generale, Credit Agricol, Stellantis, Accor, Saint-Gobain, Essilor, Pernod Ricaard, Vinci, Schneider Electric, Renault and STMicroElectronics are lower by 1 to 2%. is lower by about 1.2%.

Airbus is rising nearly 2%. Engie and Safran are up 0.8% and 0.7%, respectively. Orange and Michelin are up marginally.