CAC 40 Down 127 Points On Virus Worries

French stocks fell sharply once again on Wednesday as stimulus measures taken globally failed to allay investor fears over a coronavirus pandemic.


The benchmark CAC 40 was down 137 points, or 3.47 percent, at 3,853 after climbing 2.8 percent the previous day.


Sodexo shares dropped 1.2 percent. The food services and facilities management company said its first half results are projected to be in line with internal forecasts and aligned with fiscal 2020 annual guidance.


The first half figures include a mild shortfall in revenues in China and Italy due to COVID-19.


Automaker Renault fell over 1 percent and Peugeot declined 1.8 percent.


Europe's passenger car sales declined in February largely due to changes in vehicle taxation in EU member countries, weakening global economic situation and consumer uncertainty, data from the European Automobile Manufacturers' Association showed today.


Passenger car sales decreased 7.4 percent year-on-year to 957,052 units in February. Sales were down 7.5 percent in January.


Among member states, Germany logged the biggest fall of 10.8 percent in February, followed by an 8.8 percent decrease in Italy and a 6 percent drop in Spain. France's passenger car registrations declined 2.7 percent.

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