CAC 40 Rises Sharply
(RTTNews) - French stocks are notably higher on Tuesday, rebounding well after previous session's setback.
The mood is positive thanks to U.S. President Donald Trump indicating that some of the proposed tariffs scheduled for implementation on April may not go forward as planned, and some countries will be granted exemptions for tariffs.
Still, the U.S. President signaled plans to introduce new tariffs on automobile and pharmaceuticals in the near future.
The benchmark CAC 40 was up 107.57 points or 1.34% at 8,129.90 a few minutes ago.
TotalEnergies is rising nearly 2.5%. Credit Agricole, Airbus, Safran, Essilor, BNP Paribas, Danone, Accor and Thales are gaining 1.5 to 2.3%.
AXA, Veolia Environment, Vinci, Publicis Groupe, Michelin, Societe Generale, Sanofi, Engie, Air Liquide, Unibail Rodamco and Stellantis are up 1 to 1.4%.
ArcelorMittal is declining 0.8% and Kering, the other loser in the CAC 40 index, is down by about 0.4%.
Data from the European Automobile Manufacturers' Association, or ACEA, said, new car sales in Europe dropped by 3.4% on a yearly basis in February, after a 2.6% decline in January.
The German market reported the biggest monthly fall of 6.4%, followed by a 6.2% decrease in Italy.
In the year-to-date period, EU car sales logged an annual fall of 3%. Among major markets, only Spain recorded an increase, which was up 8.4%.
Sales in Italy and Germany decreased 6% and 4.6%, respectively. France's sales slid 3.3%.
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