CAC 40 Slides On Growth Worries

(RTTNews) - French stocks were moving lower on Monday amid growth worries as Italy and Spain imposed fresh restrictions to control a resurgence in coronavirus cases.

Closer home, France may be experiencing 100,000 new Covid-19 cases per day - twice the latest official figure - Professor JeanFrançois Delfraissy, who heads the scientific council that advises the government on the pandemic, told RTL radio today.

After setting a new daily record for coronavirus infections with 52,010 recorded over the past 24 hours, France is considering whether or not to tighten lockdown measures further.

The benchmark CAC 40 dropped 34 points, or 0.7 percent, to 4,875 after rallying 1.2 percent on Friday.

Shares of IT consultant Capgemini declined 2.5 percent after German software firm SAP cut its revenue forecast for 2020, saying that its business would take longer than expected to recover from the coronavirus pandemic.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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