CAC 40 Retreats Amid Energy Woes
(RTTNews) - French stocks declined on Thursday as investors fretted about a worsening energy crisis in Europe.
The U.K. is already in the throes of a full-year recession, while Europe is facing a tough winter and rising credit risk, according to S&P Global Ratings.
Sweden's coast guard has discovered a fourth gas leak on the damaged Nord Stream pipelines, heightening energy security concerns.
In economic releases, a measure of economic sentiment in the euro area deteriorated again in September, the European Commission said.
The corresponding index - an aggregate measure of business and consumer confidence—dropped to 93.7 from 97.3 in August, the lowest reading since November 2020, weighed by high inflation and a darkening economic outlook.
The benchmark CAC 40 was down 88 points, or 1.5 percent, at 5,676 after closing 0.2 percent higher the previous day.
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