French business activity moderates

|By:, SA News Editor

French flash manufacturing PMI has dropped to 50.9 in April from 52.1 in March and missed consensus of 51.9.

Services has fallen to 50.3 from 51.5 and vs 51.4.

Manufacturing output has declined to 51.6 from 53.3.

Composite output has slipped to 50.5 from 51.8.

The weaker rise in activity "reflected stalling new business, while staffing levels were cut at a sharper rate," says Markit, adding that companies reported hesitancy among clients. "The business climate looks set to remain frail."

The CAC 40 (EWQ) is -0.3%, while the euro dives a bit and is now flat at $1.3808. (PR)