CAC 40 Declines On Profit Taking
(RTTNews) - French stocks fell on Tuesday, as investors booked some profits following recent gains on optimism surrounding China's reopening and expectations over a potential slowdown in U.S. interest rate hikes.
The dollar edged higher in European trade but hovered near a seven-month low as investors focus on the outlook for China's economy and U.S. interest rate hikes.
Fed Chair Jerome Powell's speech later in the day also remained on investors' radar. The euro held steady and Eurozone yields rose after data showed French industrial production jumped 2.0 percent month-on-month in November.
The benchmark CAC 40 was down 39 points, or 0.6 percent, at 6,866 after rising 0.7 percent on Monday.
Among the prominent decliners, Alstom, Airbus Group, Essilor Luxottica, Kering, Michelin, Publicis Groupe, Saint Gobain and Société Générale fell 1-2 percent.
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