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CAC 40 Drops Amidst Caution
(RTTNews) - Cautious sentiment ruled markets amidst fears of whether the current ceasefire between Israel and Iran would guarantee long-term peace. Concerns about the monetary policy stance by the Fed also weighed on sentiment ahead of testimony by Fed Chair Jerome Powell.
The index that tracks the 40 largest French stocks based on the Euronext Paris has declined more than quarter percent on Wednesday after a more than 1-percent surge on Tuesday.
The CAC-40 is currently trading at 7,588.77, shedding 0.36 percent from the previous close of 7,615.99. The day's trading has been between 7,658.50 and 7,576.87.
With the reversal in sentiment, only 13 scrips in the index are trading above the flatline.
Stellantis topped gains with an addition of 4.1 percent. Accor and Thales, both gained more than 1 percent.
Danone topped losses with a decline of more than 2 percent. Societe Generale, Publicis Groupe, L'Oreal and Schneider Electric, all declined more than 1 percent.
Caution in the market lifted the dollar and the dollar index around quarter percent higher to 98.09. Amidst the dollar's strength, the EUR/USD pair has slipped 0.06 percent to 1.1602. The pair ranged between 1.1631 and 1.1591. The EUR/GBP pair has edged up 0.04 percent to 0.8527. The EUR/JPY pair has increased 0.53 percent to trade at 169.15.
Bond yields in France hardened, albeit lower than its peers. Yields on France's 10-year bonds hardened 0.37 percent to 3.255 percent, versus the level of 3.243 percent at the previous close. Yields ranged between 3.257 percent and 3.196 percent.
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