CAC 40 Little Changed In Lackluster Trade

(RTTNews) - French stocks were subdued on Monday after more Federal Reserve officials said on Friday that U.S. interest rates are likely to remain at elevated levels until there is clear sign that the rate of inflation is slowing.

Investors looked ahead to the release of key U.S. inflation data and Fed Chair Jerome Powell's speech due this week for additional clarity on the Fed's rate trajectory.

U.S. producer price inflation data for April is due on Tuesday, while the more closely watched consumer price inflation figures will be published on Wednesday. Fed Chair Jerome Powell is scheduled to speak on Monday and Wednesday.

The benchmark CAC 40 was marginally lower at 8,212 after gaining 0.4 percent on Friday.

Sanofi added 1.3 percent. The drug major announced an investment of more than 1 billion euros to create new bioproduction capacity at its various sites in France.

Valneva rose about 1 percent after announcing positive data from the phase 3 study of its chikungunya vaccine VLA1553-321 in adolescents at day 180.