
CAC 40 Slides As Moodys Downgrades Frances Credit Rating
French stocks traded lower on Monday, with banks leading losses after Moodys unexpectedly downgraded Frances credit rating to Aa3 from Aa2. Political fragmentation means there is a very low probability of reducing the ballooning fiscal deficit, the ratings agency said just hours after President Emmanuel Macron named centrist François Bayrou as his fourth prime minister...