CAC 40 Slides As PMI Data Disappoints
(RTTNews) - French stocks slipped into the red on Monday after a survey showed France's manufacturing activity contracted at its fastest pace since January in August as a result of a sharp fall in output and new orders.
The HCOB France Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, dropped to 43.9 from 44.0 in July.
Also, a separate survey revealed that Euro zone manufacturing activity remained mired in contraction in August.
The benchmark CAC 40 was down 23 points, or 0.30 percent, at 7,608 after settling marginally lower on Friday.
In corporate news, Atos tumbled 3.5 percent. The IT company revised down its annual revenue guidance to reflect the current business environment in its key markets.
Sanofi added nearly 2 percent. The drug major said it plans to start discussions about filing its oral BTK inhibitor tolebrutinib for multiple sclerosis.
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