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French business activity moderates

  • 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)
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