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CAC 40 Slides As Trade Worries Return

French stocks fell slightly on Friday as investors reacted to conflicting messages about the state of U.S.-China trade talks.

Trade-deal optimism waned a little bit after reports suggested that a plan to roll back tariffs on each other's goods in phases has met opposition from some advisers to U.S. President Donald Trump.

Worries over U.S.-China trade talks unnerved markets, offsetting better-than-expected data from China showing that China's exports and imports contracted less than expected in October.

Chinese exports fell 0.9 percent year-on-year in dollar terms, declining for the third straight month. Economists had expected a 3.9 percent fall following September's 3.2 percent contraction.

Imports declined 6.4 percent from a year earlier, slower than the forecast of 7.8 percent fall. This was the sixth consecutive decrease reflecting subdued demand.

The benchmark CAC 40 was down 21 points, or 0.35 percent, at 5,870 after gaining 0.4 percent on Thursday.

Crédit Agricole shares tumbled 3.5 percent despite the bank delivering third-quarter net profit above expectations. BNP Paribas dropped 1.3 percent and Societe Generale declined 1.4 percent.

Tariff-sensitive automakers were also moving lower. Renault gave up 1.4 percent and Peugeot shed 0.8 percent.

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