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CAC 40 Slides As Banks Drag

French stocks were moving lower on Wednesday after U.S. Commerce Secretary Wilbur Ross said the G20 is not a place where anyone makes a definitive deal.

Separately, U.S. President Donald Trump said that he was holding up a trade deal with China and had no interest in moving ahead unless Beijing agrees to four or five "major points" which he did not specify.

Investors also fretted about slowing growth in China after the country's factory gate inflation slowed in May on weak commodity demand.

The benchmark CAC 40 was down 35 points or 0.7 percent at 5.372 in opening deals after rising half a percent on Tuesday.

Software company Dassault Systèmes dropped 1.3 percent. The company has
signed an agreement to acquire Medidata Solutions, Inc. (MDSO) in an all-cash transaction at a price of $ 92.25 per share.

Banks BNP Paribas, Credit Agricole and Societe Generale were down 1-2 percent as the European Union moves closer to taking disciplinary action over Italy's growing debt.

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