CAC 40 Down More Than 0.5% As Tariff Worries Weigh
(RTTNews) - French stocks are down in negative territory on Thursday, in line with stocks from other major markets across Europe, as U.S. President Donald Trump announced a new 25% tariff on all auto imports.
Trump also posted on his Truth Social Platform that he will impose even steeper tariffs on the European Union and Canada if they collaborate to harm the U.S. economy.
European Commission President Ursula von der Leyen said she "deeply regrets" Trump's latest tariffs move. "The EU will continue to seek negotiated solutions, while safeguarding its economic interests," she said.
The benchmark CAC 40 was down 44.55 points or 0.55% at 7,986.13, about 60 points off an early low of 7,926.93.
Shares of multinational automotive manufacturing company Stellantis is down 4.2%, hurt by Trump's 25% tariffs on all auto imports into the U.S.
ArcelerMittal is declining 2.5%. Dassault Systemes is down 2.4% and Capgemini is down nearly 2%.
Saint Gobain, Publicis Groupe and Safran are down 1 to 1.25%, while Airbus, Essilor, Legrand, STMicroElectronics, LVMH and Societe Generale are lower by 0.5 to 0.9%.
Teleperformance is up more than 1.5%. Carrefour is rising 1.4%, while Michelin and Bouygues are up 1.3% and 1.2%, respectively.
Veolia Environment is advancing nearly 1%, while Edenred, Danone, Kering Unibail Rodamco and Vinci are up 0.4 to 0.8%.
U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August
Chicago Business Barometer Slumps Much More Than Expected In August
U.S. Consumer Prices Increase In Line With Estimates In July
German Unemployment Exceeds 3 Mln
U.S. PCE Price Index Increased In Line With Estimates In July
Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus
Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus
