CAC 40 Edges Lower Ahead Of Busy Data Week
(RTTNews) - French stocks fell slightly on Monday while the euro rose against its major rivals after ECB's Yannis Stournaras ruled out the possibility of rate cuts in March.
European Central Bank president Christine Lagarde will speak in a plenary debate on the ECB Annual Report 2022 in Strasbourg, France later today.
U.S. PCE numbers and Eurozone inflation data due this week may also offer important clues on the timing and pace of interest-rate cuts in the U.S. and Europe.
The benchmark CAC 40 was down 26 points, or 0.3 percent, at 7,940 after climbing 0.7 percent on Friday.
In corporate news, Compagnie de Saint-Gobain S.A. was marginally lower.
The construction and materials company announced that it has entered into a definitive agreement to acquire shares of CSR, a building products company, for A$9 per share in cash. This brings the total net enterprise value to A$3.2 billion.
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