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CAC 40 Slides As Investors Await ECB Policy Outcome
(RTTNews) - French stocks declined on Thursday as investors wait to see whether the European Central Bank will raise its key interest rate to a record peak, in a bid to tackle inflation in the euro zone.
Caught between stubborn inflation and weakening growth, the central bank is facing a close call.
The benchmark CAC 40 was down 30 points, or 0.4 percent, at 7,192 after losing 0.4 percent the previous day.
Banks BNP Paribas, Credit Agricole and Societe Generale were seeing modest gains. Automaker Renault dropped 1.3 percent after Beijing blasted the launch of a probe by the European Commission into China's electric vehicle (EV) subsidies as protectionist.
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Geopolitical Tensions Drag Down CAC 40
An escalation in geopolitical tensions in the Middle East triggered by the Israel-Iran conflict weighed on market sentiment dragging down the CAC 40. Concerns about the trade dispute between the U.S. also weighed on sentiment.
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