CAC 40 Pares Early Gains
(RTTNews) - French stocks are turning in a mixed performance in somewhat lackluster trade Monday morning after paring early gains, as investors assess the potential impact of new tariffs likely to be imposed by U.S. President Donald Trump.
Trump announced plans to impose a 25% tariff on all steel and aluminum imports, with additional tariffs expected to be unveiled on Tuesday or Wednesday. German Chancellor Olaf Scholz reportedly emphasized that the EU is prepared to respond "within an hour" if the US imposes tariffs on European goods.
Amid a lack of fresh data due from the region, investors largerly refrain from making significant moves.
Expectations of more monetary easing by the European Central Bank aid sentiment. ECB Governing Council member Boris Vujcic said that expectations for three more rate reductions this year are reasonable.
The benchmark CAC 40, which advanced to 8,003.27 in early trades, was roughly flat at 7,973.33 a few minutes ago.
Teleperformance is rising more than 1.5%. Unibail Rodamco, Schneider Electric and Edenred are up 1.2 to 1.4%.
Vivendi, Orange, Accor, Capgemini, Legrand, Eurofins Scientific, Hermes International, Sanofi, Essilor and BNP Paribas are up 0.4 to 0.9%.
ArcelorMittal is down by about 2.5%. Vinci is declining 1.6%. Saint Gobain, Pernod Ricard, Societe Generale, Danone, Publicis Groupe, Dassault Systemes and Veolia Entertainment are also down in negative territory.
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