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CAC 40 Modestly Lower In Lackluster Trade

French stocks were moving lower on Monday amid fears that rising coronavirus cases in the U.S. and elsewhere could lead to the re-imposition of lockdowns and other containment measures.

The downside was capped after China's central bank pumped cash into the banking system to maintain liquidity and a report showed profits at China's industrial firms rose for the first time in six months in May.

The benchmark CAC 40 was down 10 points, or 0.2 percent, at 4,899 after closing down 0.2 percent on Friday.

Airbus advanced 1.7 percent. Speaking at the WELT discussion, Chief Executive Officer Guillaume Faury said the company assumes that production and deliveries for the next two years will be 40 percent below prior estimates. Volume levels are anticipated to hit the previous numbers by 2025, at the earliest.

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