BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Stocks in the CAC-40 index of Paris's Euronext Exchange cracked under the pressure of deep negative sentiment following concerns over the China's growth story as well as the domestic coronavirus situation. Data releases on factory output and retail sales from China had fallen below market expectations and simultaneously urban unemployment increased to a three-month high. Correction in crude oil prices and political turmoil in Asia also aggravated the negative sentiment.
The benchmark CAC-40 is currently hovering near the 6832.35 level, down 0.92 percent from Friday's close of 6896.04.
At current levels, the CAC-40 is 1.18 percent lower than the 52-week high of 6913.67.
Food major Danone gained 0.60 percent closely followed by microelectronics company STMicroelectronics which advanced by 0.15 percent.
Luxury group Kering is down 3.31 percent whereas cosmetics company L'Oreal and car-maker Renault are down more than 2 percent.
Decline in crude oil prices impacted Total Energies to decline by 1.87 percent.
Insurance company Axa which announced the sale of its operations in Singapore to HSBC has declined by 0.90 percent.
LVMH is the most actively traded stock with a volume of 56.66 million.
Currently only 3 scrips have survived the sell-off and the remaining scrips in the 40-scrip index are trading in negative territory.
The EURUSD pair is hovering around 1.1783 levels
Euro Area awaits the employment and GDP data on August 17 and inflation data on August 18.
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