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CAC Moderately Lower As Investors Await Progress In Trade Talks
(RTTNews) - French stocks are notably lower on Tuesday amid rising uncertainty over U.S.-EU trade talks ahead of the August 1 deadline. The mood is very cautious with investors awaiting a slew of earnings updates from big name French companies.
According to media reports, the European Union is preparing to respond with a suite of retaliatory measures under its Anti-Coercion Instrument (ACI) following U.S. President Donald Trump's threat to impose a 30% tariff on EU goods from 1 August.
Also, the prospect of an interim trade deal between the U.S. and India before the August 1 deadline have dimmed due to persistent disagreements over key agricultural and dairy products.
The benchmark CAC 40 was down 61.68 points or 0.79% at 7,736.54 a few minutes ago.
STMicroElectronics is down 2.7%. Capgemini and Saint Gobain are down by about 2.2% and 2.1%, respectively.
Stellantis, Schneider Electric and Airbus are down 1.6 to 1.9%. Safran, Legrand, LVMH, Bureau Veritas, Vinci, EssilorLuxottica, Hermes International, Societe Generale, Air Liquide and Michelin are down 0.6 to 1.25%.
Among the gainers, Engie is up 1.35%. Edenred, Orange, Veolia Environment, Pernod Ricard, Accor, Kering and Carrefour are advancing 0.3 to 0.7%.
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