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CAC 40 Subdued On Growth Worries

(RTTNews) - French stocks were subdued on Monday after official data showed China's economic growth slowed to 6.2 percent in the second quarter from a year earlier, the weakest in at least 27 years, amid a prolonged trade war with the United States.

The Chinese economy will continue to face "downward pressure" in the second half of this year, the country's National Bureau of Statistics said in a statement.

The downside in markets, however, remained limited after June factory output and retail sales figures offered signs of improvement.

Annual growth in industrial production advanced more-than-expected to 6.3 percent from 5 percent in May, showing the fastest growth in three months.

Likewise, retail sales grew at a faster pace of 9.8 percent after rising 8.6 percent a month ago. Economists had forecast an 8.5 percent increase for June.

The benchmark CAC 40 was down 5 points at 5,567 in opening deals after closing up 0.4 percent on Friday.
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