CAC 40 Down Marginally In Lackluster Trade
(RTTNews) - The French market is down marginally on Tuesday with stocks moving in a tight band ahead of the Federal Reserve's monetary policy meeting. The Fed is widely expected to cut interest rates by 25 basis points on Wednesday.
The benchmark CAC 40 was down 6.51 points or 0.08% at 7,890.42 a few minutes ago.
Kering is gaining 4.5%. EssilorLuxottica and Capgemini are up 2.4% and 2.3%, respectively. LVMH, Hermes International and Dassault Systems are gaining a little over 2%.
Reanault is advancing nearly 2.5%, and Stellantis is gaining about 0.7%.
L'Oreal and Bouygues are down 2.3% and 2.2%, respectively. Societe Generale, Orange, Vinci, Pernod Ricard, AXA, Engie and Carrefour are down 1 to 1.6%.
In economic news, industrial production in the Euro Area inched higher by 0.3% from the previous month in July, after a revised 0.6% drop in the earlier period. Compared to a year ago, industrial output grew by 1.8% in July, picking up from the 0.7% increase in June.
The ZEW Indicator of Economic Sentiment for the Euro Area rose by 1 point from the prior month to 26.1 in September, above market estimates of 20.3. In September. The Indicator of the current economic situation increased by 2.4 points to -28.8 and inflation expectations went up by 3.3 points to -3.4.
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