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CAC 40 Subdued Ahead Of US Midterm Elections
(RTTNews) - French stocks were subdued on Monday, as investors awaited the outcome of the mid-term elections in the United States and the latest U.S. consumer inflation report this week for directional cues.
Polls show Republicans poised for potentially big victories in Tuesday's congressional election.
The benchmark CAC 40 was marginally lower at 6,414 after rallying 2.8 percent on Friday.
Luxury stocks were moving lower, with Pernod Ricard and LVMH falling between half a percent and 1 percent, after officials from China's health commission reiterated their commitment to maintain the zero-COVID policy, which entails strict lockdown measures to prevent transmission.
The dollar gained in early European trade and gold slipped from a three-week high scaled in the previous session, while oil prices fell after settling up by more than 5 percent on Friday.
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