CAC 40 Drifts Lower Amid Covid Worries

(RTTNews) - French stocks fell sharply on Tuesday as coronavirus infections continue to spread despite some of the strictest restrictions in Europe.

The country should get ready for "difficult decisions" on new measures to cope with the resurgence of the virus, interior minister Gerald Darmanin reportedly said before a cabinet meeting to discuss the pandemic.

U.S. election uncertainty and a lack of progress in U.S. stimulus deal talks also kept investors nervous.

The benchmark CAC 40 dropped 45 points, or nearly 1 percent, to 4,765 after losing 1.9 percent in the previous session.

Automakers Renault and Peugeot fell over 2 percent after data showed profits at China's industrial firms rose at a slower pace in September.

Oil & gas company Total SA declined 1.1 percent after oil prices dropped more than 3 percent overnight.

IT services provider Capgemini jumped nearly 6 percent after confirming its full-year targets.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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