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CAC 40 Drops On Weak Earnings

French stocks edged lower on Friday as economists turned more pessimistic about the immediate outlook for China following the release of weak GDP data.

China's GDP grew 6 percent year-on-year in the third quarter after rising 6.2 percent in the second quarter, the National Bureau of Statistics said. This was the slowest growth since early 1990s.

Brexit worries also kept investors nervous as British Prime Minister Boris Johnson battles to sell his new Brexit deal to skeptical members of the U.K. Parliament ahead of a crucial vote on Saturday.

The benchmark CAC 40 was down 20 points, or 0.36 percent, at 5,652 after declining 0.4 percent on Thursday.

Renault shares slumped 12 percent after the automaker cut its operating margin and revenues outlook for fiscal year 2019, citing a less favorable economic environment and a regulatory context that requires ever-increasing costs. Peugeot shares fell over 1 percent.

Food company Danone lost 8 percent after the company lowered its sales outlook.

Energy giant Total gained 0.7 percent as it announced the launch of its first large liquefied natural gas or LNG bunker vessel, following its long-term charter contract with Mitsui O.S.K Lines signed in February 2018.

Defense electronics firm Thales fell nearly 5 percent after cutting its revenue growth forecast for 2019.

Yogurt maker Danone plunged 7.4 percent after cutting its full-year sales guidance.

Shares of Remy Cointreau declined 1.4 percent after the wine and spirits company reported that its first-half sales dropped 0.6 percent to 523.9 million euros from 527 million euros last year.

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