CAC 40 Inches Lower As Investors Await Powell Speech
(RTTNews) - French stocks were moving lower on Tuesday as China reported mixed trade data and investors looked ahead to Fed Chair Jerome Powell's speech due on Wednesday and Thursday for additional clarity on the U.S. rate outlook.
China's exports shrank 6.4 percent year-on-year in October, while imports unexpectedly grew 3.0 percent to snap 11 straight months of decline, official data showed in a sign that recovery in the world's second-largest economy remains uneven despite a series of government stimulus measures.
The benchmark CAC 40 was down 17 points, or 0.2 percent, at 6,997.
Engie gained about 1 percent. The energy company raised its full-year outlook after reporting earnings before interest and taxes of 8.322 billion euros for the 9-month period, 14.7 percent from 7.254 billion euros in the same period a year ago.
Capgemini was marginally lower. The IT company registered a decline revenue for the third-quarter of 2023, amidst challenging macro-economic conditions.
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