Markets

CAC 40 Drifts Lower Ahead Of US-China Trade Talks

(RTTNews) - French stocks were moving lower on Monday as investors nervously awaited U.S.-China talks this week for signs of whether there will be breakthrough on trade.

The high-level trade negotiations are slated to happen in Washington on Oct 10-11, with a Bloomberg report saying that Chinese officials are reluctant to agree to a broad trade deal pursued by U.S. President Donald Trump.

Investors also kept an eye on Brexit negotiations after French President Macron said the U.K. has to the end of the week for final negotiations to demonstrate it has a workable Brexit plan.

The benchmark CAC 40 was down 10 points, or 0.18 percent, at 5,476 after climbing 0.9 percent on Friday.

In economic releases, official data showed that German industrial orders fell more than expected in August on weaker domestic demand, underscoring concerns of a looming recession in the country.

Factory orders decreased 0.6 percent sequentially, with demand for capital goods down 1.6 percent, the Economy Ministry said.

Meanwhile, Eurozone Sentix investor confidence dropped to -16.8 in October from -11.1 in September. That missed expectation of -13.0.

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