MARKET COMMENT: Paris Stocks Close Sharply Lower
07/20/2012| 12:08pm US/Eastern
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1552 GMT [Dow Jones] CAC-40 closes 2.1% lower at 3193.89, falling after Spain downgrades its growth forecasts for 2013, says a Paris-based trader. "Not even the Eurogroup's decision could stop the drop," says the trader, referring to euro zone finance ministers formally adopting Spain's banks bailout plan. EDF drops 5.7% following a UBS downgrade to sell from neutral. EADS bucks the trend, up 3.9% after a Goldman Sachs upgrade to buy from neutral. Monday's macroeconomic calendar includes euro zone consumer confidence data at 1400 GMT. (hugo.passarello@dowjones.com)
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