Markets

CAC 40 Drifts Lower On Italian Politics

(RTTNews) - French stocks were moving lower on Tuesday as coalition talks continued in Italy and investors awaited further clarity on the Trump administration's future approach to the U.S.-China trade war.

Italy's anti-establishment Five Star Movement suspended talks on forming a new ruling coalition with the opposition Democratic Party, insisting it would end talks unless Giuseppe Conte can remain prime minister.

The day's economic reports proved to be a mixed bag, with a measure of French manufacturing confidence improving slightly in August on a rebound in order books and production expectations, while consumer sentiment remained stable, separate reports showed.

The benchmark CAC 40 was down 8 points, or 0.15 percent, at 5,343 after gaining half a percent on Monday.

Elsewhere, Asian markets ended the day mostly higher while trading in U.S. equity futures pointed to a slightly lower open on Wall Street later in the day.

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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