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CAC 40 Slips Into Red With Rate Decisions In Focus
(RTTNews) - French stocks were a tad lower on Thursday after the U.S. Federal Reserve raised rates by 25 bps, as widely expected, and signaled it may pause further rate increases depending on incoming data.
Meanwhile, the European Central Bank is expected to raise interest rates for the seventh meeting in a row later today, citing upside risks to the inflation outlook.
In economic releases, the French services PMI increased from 53.9 to 54.6 but was down from a prelim 56.3.
The benchmark CAC 40 was down 27 points, or 0.4 percent, at 7,377 after closing 0.3 percent higher the previous day.
Capgemini shares fluctuated after the IT consulting group posted weaker revenue growth in the first quarter amid a tense economic environment.
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