CAC 40 Slides As Investors Await Big Bank Earnings
(RTTNews) - French stocks traded lower on Tuesday as investors awaited key U.S. inflation data this week for important clues on the Fed's rate trajectory.
Also, the U.S. earnings season starts in earnest later this week, with banks JPMorgan Chase, Bank of America and Citigroup due to report fourth quarter and full-year results on Friday.
Closer home, France's trade deficit decreased in November due to a sharp fall in imports, data released by customs office showed earlier today.
The trade deficit narrowed more-than-expected to EUR 5.9 billion in November from EUR 8.5 billion in October. The shortfall was forecast to fall moderately to EUR 7.9 billion.
Exports posted a monthly decrease of 0.6 percent. At the same time, imports declined more sharply by 4.8 percent. On a yearly basis, exports and imports fell 5.1 percent and 14.1 percent, respectively.
Eurozone unemployment figures are awaited later in the day.
The benchmark CAC 40 was down 0.3 percent at 7,428 after gaining 0.4 percent the previous day.
In corporate news, camping vans maker Trigano jumped 3 percent after posting higher revenue in its fiscal first quarter.
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