CAC 40 Extends Losses As Risk Aversion Deepens

(RTTNews.com) - French stocks fell sharply on Friday to extend losses from the previous session, as growth worries coupled with the threat of U.S. government shutdown prompted investors to shun equities and seek safe-haven assets.

Trade tensions also remained in focus after the U.S. Justice Department announced the criminal indictment of two computer hackers associated with the Chinese government.

The benchmark CAC 40 was down 38 points or 0.82 percent at 4,654 in opening deals after declining 1.8 percent on Thursday.

Renault rose half a percent. According to media reports, Carlos Ghosn, the former Chairman of Nissan Motor Co Ltd., was re-arrested by Japan authorities on new allegations of financial misconduct. The new charges will help the authorities to extend his detention.

On a day of little economic news, investors looked ahead to a deluge of U.S. economic releases, with readings on third quarter GDP, durable goods orders, personal income and spending, and consumer sentiment due later in the day.

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