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CAC 40 Drifts Lower Ahead Of Key Data

French stocks drifted lower on Friday after data showed the German economy stagnated in the fourth quarter, reviving fears of a recession. Investors await an updated reading on euro zone GDP for the last quarter for further direction.

On the trade front, the United States and China have lowered tariffs on each other's goods today as part of the "Phase One" trade agreement.

Concerns over the coronavirus outbreak eased somewhat after the World Health Organization said there was no major shift in the coronavirus's pattern of mortality or severity, despite a dramatic increase in Hubei province.

The benchmark CAC 40 was down 13 points, or 0.21 percent, at 6,080 after declining 0.2 percent on Thursday.

Crédit Agricole shed 0.8 percent despite the bank's fourth-quarter net profit coming in above expectations.

Renault fell 2.3 percent after the car maker posted an annual loss of 141 million euros ($153 million) - its first in 10 years. The company slashed its annual demand and warned that auto demand remained volatile.

Electric utility EDF soared 8 percent after its net income, Group share, rose more than four-fold for the full year, with 4 percent growth in sales.

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