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CAC 40 Slips As Growth Worries Weigh

French stocks declined on Monday, with worries over inflation and disappointing GDP data from China denting sentiment.

China's third-quarter GDP grew a disappointing 4.9 percent and industrial output rose less than expected in September, keeping worries around slowing economic growth alive.

The benchmark CAC 40 slipped 52 points, or 0.8 percent, to 6,675 after rising 0.6 percent on Friday.

Valneva shares jumped as much as 34 percent after the biotech company reported positive Phase 3 results for its inactivated, adjuvanted Covid-19 vaccine candidate.

China-exposed luxury stocks including LVMH and Kering fell around 3 percent after Chinese President Xi Jinping's call to expand a consumption tax.

Banks gained ground, with BNP Paribas, Credit Agricole and Societe Generale rising between 0.7 percent and 1.4 percent.

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