CAC 40 Slips Ahead Of Powell Testimonies
(RTTNews) - French stocks edged lower on Tuesday in the absence of cues from U.S. markets, which were closed on Monday for a federal holiday.
Investors also awaited cues from Fed Chair Jerome Powell's testimonies and the Bank of England's interest-rate decision this week for clues on the monetary policy outlook.
The benchmark CAC 40 dropped 16 points, or 0.2 percent, to 7,298 after losing 1 percent the previous day.
Renault slumped 4.4 percent. The carmaker appointed its group chief executive Luca de Meo as the future chairman and CEO of Ampere.
Drug maker Sanofi rallied 2.4 percent. The International Chamber of Commerce ruled in its Favour in an arbitration case over claims by Boehringer Ingelheim in cancer lawsuits linked to heartburn drug Zantac in the United States.
China-related LVMH and Hermes International both fell about 1 percent after a modest interest rate cut by China.
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