BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks were moving lower on Friday as risk-off sentiment prevailed amid concerns over higher interest rates and rising geopolitical tensions in Ukraine.
The benchmark CAC 40 fell 50 points, or 0.7 percent, to 6,973 after rising 0.6 percent the previous day.
LVMH rose over 2 percent. The luxury goods company said that revenue last year totaled 64.2 billion euros ($71.6 billion), topping the previous record set in 2019. Rivals Kering and Hermes were seeing modest losses.
In economic news, the French economy logged a moderate growth at the end of 2021 after a strong rebound in the third quarter with the reopening in several sectors of activity, the statistical office Insee said.
Gross domestic product grew by a more-than-expected 0.7 percent sequentially, following a 3.1 percent rise in the third quarter. Economists had forecast a quarterly expansion of 0.5 percent.
After returning to its pre-crisis level in the previous quarter, GDP exceeded it significantly by 0.9 percent in the fourth quarter.
Separate data showed that France's producer prices rose at a faster annual pace in December to set a new historical high.
The total producer price index climbed 16.9 percent year-on-year after a 16.7 percent increase in November.
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