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Market Update: French Shares Move Flat on Monday
The CAC 40 traded almost flat on Monday, hovering levels not seen since late 2000, as traders balanced prospects of economic recovery against concerns about runaway inflation. On the corporate side, shares of Solutions 30, the newest company on the Paris Stock Exchange, collapsed by over 70% on Monday, following the move from its auditor Ernst & Young indicating it was impossible to confirm the companys FY 2020 accounts. On the pandemic front, France reported its lowest daily death toll in seven months on Sunday, while the 7-day moving average of daily new cases dropped to levels not seen since late 2020, as the nation gradually approaches the deadline to lift all major restrictions by late June. [/s2If]
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