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CAC 40 Slides On Virus Worries, Weak Data

French stocks were moving lower on Friday as rising Covid-19 cases as well as disappointing regional data stirred fresh concerns about the economic outlook.

A new strain of the coronavirus has led to fresh lockdowns in many parts of the world - including countries in Asia. EU leaders are mulling internal border closures due to rising infection and death rates.

Eurozone private sector activity contracted at an accelerated pace in January amid the ongoing pandemic and related restrictions, flash data from IHS Markit showed.

The composite output index declined to 47.5 in January from 49.1 in December, signaling third successive contraction and the steepest deterioration since November.

The rate of factory output growth weakened to the slowest since the recovery began while the service sector saw output fall at the second-fastest rate since May.

The benchmark CAC 40 dropped 36 points, or 0.7 percent, to 5,554 after declining 0.7 percent in the previous session.

Airbus shares fell 1 percent on news the planemaker has slowed the pace of a planned ramp-up in jetliner production.

Liquor group Remy Cointreau gained 0.8 percent after reiterating its FY guidance.

Petroleum company Total SE dropped 1.1 percent as oil prices slipped from 11-month highs hit last week amid concerns over reduced fuel consumption.

Airline Air France KLM tumbled 3 percent amid fears of a third wave of infections, with the European Union (EU) proposing setting up of "dark red" coronavirus hot spots.

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