CAC Drifts Lower

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(RTTNews.com) - The French stock market is down in negative territory on Tuesday, with a sell-off in global stock markets amid mounting worries about geopolitical tensions and trade war concerns prompting investors to press sales across various sectors.

Technology, oil and financial stocks are among the prominent losers. Industrial and healthcare stocks are also mostly lower.

The benchmark CAC 40 is down 73.51 points, or 1.45 percent, at 4,979.80.

Shares of technology company Atos SE are down more than 23 percent after it lowered its 2018 revenue growth forecast. The company adjusted its 2019 targets to include the effects of its acquisition of U.S. company Syntel Inc.

Atos said it expects 2018 revenue growth to be around 1 percent, as against an earlier projection of 2 to 3 percent growth. The company said the cut in its outlook was due to a deterioration in its infrastructure and data management business in North America and Germany, as well as a challenging international economic environment.

ST Microelectronics, Dassault Systemes, Arcelor Mittal, Capgemini, Technip FMC, Pernod Ricard, Kering, Valeo, Renault and Peugeot are down 2 to 5 percent.

Most European markets, including the markets in the U.K. and Germany are down with notable losses.

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This article appears in: Stocks
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