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CAC 40 Retreats After Paris Shooting

French shares fell on Friday as traders booked some profits after sharp gains in the previous session on hopes that centrist candidate and favorite Emmannuel Macron will make it into the second round of the presidential election and beat Le Pen handsomely on May 7th.

The outcome of the first round of voting on Sunday appears to be too close to call. Investors also kept an eye on other developments in France after a French policeman was shot dead in Paris and two others were wounded in a suspected terrorist attack.

The benchmark CAC 40 was down 45 points or 0.90 percent at 5,032 in late opening deals after climbing as much as 1.5 percent the previous day.

Danone shares fell 2.5 percent after the dairy giant reported muted growth in its underlying sales in the first quarter of the year.

In economic releases, Eurozone private sector growth hit a fresh six-year high in April, survey results from IHS Markit showed today.

The flash composite output index rose unexpectedly to 56.7 from 56.4 in March as growth accelerated in both manufacturing and services.

The French private sector expanded the most in almost six years. The flash composite output index rose to a 71-month high of 57.4 in April from 56.8 in March, while service sector activity increased for the tenth time in as many months.

by RTTNews Staff Writer

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