CAC 40 Slides On Uncertainty Over Monetary Policy Path
(RTTNews) - French stocks declined on Tuesday due to uncertainty over the European Central Bank extending rate cuts beyond June.
Eurozone sovereign bond yields climbed for the second day as investors looked ahead to the release of business activity data later this week for fresh clues on the European Central Bank's monetary path.
The benchmark CAC 40 was down 66 points, or 0.8 percent, at 8,130 after closing up 0.4 percent on Monday.
Sanofi was marginally lower. The drug major has announced a collaboration with Formation Bio and AI research and deployment company OpenAI to build AI-powered software to accelerate drug development and bring new medicines to patients more efficiently.
Aerospace company Airbus shed 0.6 percent despite Saudi Arabia's national airline ordering more than 100 new Airbus jets.
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