CAC 40 Notably Lower As Stocks Fall On Tariff Uncertainty
(RTTNews) - French stocks are turning in a weak performance on Friday, with investors making cautious moves ahead of the upcoming U.S. reciprocal tariff headline.
U.S. President Donald Trump's announcement that his administration will begin issuing forma letters on trade matters has raised concerns that the U.S. government will impose tariffs effective next week.
Weak French industrial output data is hurting as well.
The benchmark CAC 40 was down 64.97 points or 0.84% at 7,689.58 a few minutes ago. The index had dropped to 7,656.69 earlier in the session.
Teleperformance, Stellantis and Publicis Groupe are down 2 to 2.25%. LVMH, Kering, BNP Paribas, ArcelorMittal, Schneider Electric, STMicroElectronics, Dassault Systemes and Schneider Electric are declining 1.5 to 1.7%.
Saint Gobain, Legrand, Societe Generale, Eurofins Scientific, Essilor, Edenred, Credit Agricle, Unibail Rodamco and Michelin are also notably lower.
Engie is gaining about 0.6% and Thales is up 0.4%. Orange and Sanofi are up marginally.
Data from the statistical Office INSEE showed France's industrial production logged an unexpected monthly fall in May, dropping by 0.5% month-on-month. Output was expected to rise 0.4%. Nonetheless, the pace of decline was less severe than the 1.4% decline posted in April.
Meanwhile, the decline in manufacturing output deepened to 1% from 0.7% a month ago.
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