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CAC 40 Slides On Interest-rate Worries
(RTTNews) - French stocks declined on Tuesday on interest-rate worries after Reuters reported citing sources that ECB policymakers will discuss whether to raise rates by 25 or 50 points at their meeting on Thursday to tame record-high inflation.
The benchmark CAC 40 was down 45 points, or 0.7 percent, at 6,046 after gaining 0.9 percent in the previous session.
Alstom slumped 6.5 percent. The train maker warned of challenges from inflation and the shortage in electronic components after reporting an 8 percent increase in first-quarter sales.
EDF shares soared 15 percent after the French government offered 12 euros per share to take full control of the company in a 9.7 billion-euros (US$9.85 billion) buyout offer to nationalize Europe's biggest nuclear power operator.
The offer price represented a premium of 53 percent, to the closing price of EDF shares on July 5, the day before Prime Minister Elisabeth Borne announced the nationalization.
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