CAC 40 Slides As Investors Await Fed Meeting Outcome
(RTTNews) - French stocks traded lower on Wednesday ahead of the Fed's interest-rate decision later in the day and Thursday's BOE rate decision.
No meaningful changes are expected from the Fed, but the dot plot projections may hold cues to future interest-rate moves.
The benchmark CAC 40 dropped 68 points, or 0.8 percent, to 8,132 after climbing 0.7 percent on Tuesday.
Lender Credit Agricole was marginally lower while financial service provider Worldline fell 1.2 percent after they have formed a joint venture to provide digital payment services for merchants in France.
Biotech company Valneva declined 2.6 percent after it reported a net loss of 101.4 million euros for fiscal year 2023.
Annual total revenues dropped to 153.7 million euros from 361.3 million euros in 2022.
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