CAC 40 Little Changed In Cautious Trade
(RTTNews) - French stocks were little changed on Monday as investors braced for a busy week of corporate earnings and a policy meeting of the U.S. Federal Reserve, with economists expecting a 75-bps point hike to combat inflation.
Closer home, hawkish ECB policymaker Robert Holzmann told the Austrian public broadcaster ORF on Sunday that the Governing Council will consider the economic landscape across the euro zone before deciding on the next tightening step in September.
The European Central Bank raised interest rates by a bigger-than-expected 50 basis points last week, marking its first hike in 11 years.
The benchmark CAC 40 was marginally lower at 6,215 after gaining 0.3 percent on Friday. Telecom firm Orange rose nearly 2 percent after it signed a binding agreement with MasMovil to combine their businesses in Spain.
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