French stocks experienced a decline on Thursday as President Emmanuel Macron advocated for a temporary tax on the nation's largest corporations, aimed at stabilizing public finances. Adding to the cautious market mood, a recent survey indicated that France's services sector contracted in September, though the contraction was less severe than initially feared.
The CAC 40 index, a key benchmark, fell by 62 points or 0.8%, settling at 7,514. This decline followed a slight increase in the previous trading session.
In terms of corporate developments, the supermarket conglomerate Casino saw a decrease of 0.5% in its share price. This came after the company confirmed it is currently under preliminary investigation by France's national financial prosecution office, related to allegations of price manipulation and corruption from the years 2018 and 2019.
Conversely, Alstom enjoyed a 2.2% rise in its stock value following the receipt of an order from Proxima for 12 Avelia Horizon high-speed trains.
