CAC Gives Up Early Gains
(RTTNews) - French stocks gave up early gains to slip into the red on Tuesday as investors braced for the long-awaited Federal Open Market Committee (FOMC) meeting on Wednesday for directional cues.
With inflation running well ahead of the Fed's 2 percent goal, investors wonder whether the U.S. central bank will announce a bigger rate move during the two-day meeting that concludes Wednesday.
The benchmark CAC 40 was down 26 points, or 0.4 percent, at 5,996 after declining 2.7 percent the previous day.
Banks topped the gainers list, with BNP Paribas, Credit Agricole and Societe Generale rising between 0.6 percent and 1.6 percent.
Euronext edged up slightly after it announced the acquisition of the technology businesses from Nexi's capital markets activities.
Atos slumped 17 percent on news of restructuring and CEO exit.
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