CAC 40 Slips On Uncertainty Over Rate Cuts

(RTTNews) - French stocks retreated on Wednesday after several European Central Bank officials pushed back against investors' bets that they will start cutting interest rates this spring.

The benchmark CAC 40 was down 81 points, or 1.10 percent, at 7,316 after falling 0.2 percent the previous day.

China-exposed luxury stocks declined after China GDP growth data for the fourth quarter came in below expectations.

LVMH dropped 1.4 percent, Kering tumbled 2.1 percent and Hermes International fell about 1 percent.

Automaker Renault fell 1.8 percent despite posting an increase in its annual global sales volumes.

Worldline advanced 1.6 percent after Reuters reported the payments services company has linked up bankers to advice on a strategy to reassure shareholders and avoid a hostile takeover.