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CAC 40 Down Nearly 1%
(RTTNews) - French stocks are exhibiting weakness on Tuesday as continued contraction in the nation's services sector activity, and global trade tensions weigh on sentiment.
Investors are awaiting the Federal Reserve's monetary policy announcement, due on Wednesday.
The benchmark CAC 40 was down 65.47 points or 0.85% at 7,662.46 a few minutes ago.
ArcelorMittal, Airbus, Hermes International, Stellantis and Kering are down 2 to 2.7%. STMicroElectronics, L'Oreal, Essilor, Safran, Legrand, LVMH, Societe Generale, Eurofins Scientific, Thales and Saint Gobain are lower by 1 to 1.9%.
TotalEnergies is advancing more than 1%. Teleperformance, Engie, Orange and Carrefour are gaining 0.4 to 0.8%.
On the economic front, the HCOB France Composite PMI for April was revised slightly up to 47.8, from the flash estimate of 47.3, but below March's 48. The latest survey pointed to a continued downturn in economic activity in France for the eighth consecutive month.
The Services Sector PMI dropped to 47.3 in April from 47.9 a month earlier, while the manufacturing sector remained sluggish despite a slight improvement. The manufacturing PMI came in at 48.7, compared to 48.5 in March.
France's industrial production growth eased more than expected in March, figures from the statistical office INSEE showed. Industrial output grew only 0.2% in March from February, when production expanded 1%. Production was expected to climb 0.4%.
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