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CAC 40 Retreats Ahead Of Central Bank Meetings
(RTTNews) - French stocks were moving lower on Monday as investors braced for another round of rate hikes from major central banks.
The FOMC decision is due on Feb.1, with analysts expecting the U.S. central bank to slow the pace of interest rate hikes to 25 basis points.
Traders will pay close attention to the accompanying statement to see if there are chances of a soft landing for the economy.
Elsewhere, the European Central Bank and the Bank of England are both expected to hike rates by 50 basis points.
The European Commission is set to issue euro area economic sentiment survey results later in the day. The economic confidence index is seen at 97.0, up from 95.8 in December.
The benchmark CAC 40 was down 32 points, or half a percent, at 7,065 after finishing marginally higher on Friday.
Total Energies SE fell nearly 2 percent. The energy firm and its Italian partner Eni S.p.A. have completed the transfer of a 30 percent interest in exploration Blocks 4 and 9 off the coast of Lebanon to QatarEnergy.
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