CAC 40 Down Nearly 1% On Weak Global Cues
(RTTNews) - French stocks are moderately lower on Monday, weighed down by continued rise in bond yields and fading hopes of a rate cut by the Federal Reserve this month. Also, investors appear wary of building up long positions amid U.S. tariff fears, and a lack of fresh economic data.
The benchmark CAC 40 was down 65.58 points or 0.88% at 7365.46 a little while ago.
STMicroElectronics is down more than 4%. Unibail Rodamco, Schneider Electric, Stellantis, Publici Groupe, Saint-Gobain, ArcelorMittal, Capgemini, Safran, Hermes International, Airbus Group, Edenred and Legrand are lower by 1 to 2.5%.
Engie is rising about 1.7% and Bouygues is gaining 1.2%. Orange, TotalEnergies, Credit Agricole, Vivendi, Carrefour and Societe Generale are up 0.5 to 1%.
A sell-off on Wall Street on Friday following upbeat jobs data that raised concerns about the outlook for interest rates, is hurting sentiment in European markets today. The major U.S. averages all closed sharply lower on Friday. The Dow settled with a loss 1.63%, the S&P 500 closed down 1.54% and the Nasdaq ended lower by 1.63%.
Data from the Labor Department showed U.S. non-farm payroll employment surged by 256,000 in December, after jumping by a downwardly revised 212,000 jobs in November.
Economists had expected employment to climb by 160,000 jobs compared to the addition of 227,000 jobs originally reported for the previous month.
The unemployment rate in the U.S. edged down to 4.1% in December from 4.2% in November. The rate was expected to come in unchanged.
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