CAC 40 Drifts Lower On US-China Concerns

( - French stocks were modestly lower on Monday as investors looked for further signs of progress in U.S.-China trade talks.

U.S.-China trade negotiations ended without concrete results last week, though both countries claimed progress after two days of "candid, specific and fruitful" discussions in Washington.

The White House emphasized the two sides still faced the "hard deadline" of March 1 to avoid another sharp escalation in their trade war.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to China in mid-February for the next round of talks, according to Xinhua.

U.S. President Donald Trump and Chinese President Xi Jinping are expected to meet on February 27 and 28 in the coastal city of Da Nang to address issues that are more contentious.

The benchmark CAC 40 was down 12 points or 0.25 percent at 5,006 in opening deals after gaining half a percent on Friday.

In economic releases, Sentix research group said its investor sentiment index for the euro zone dropped to -3.7 in February from -1.5 in the previous month. The latest score marked the lowest level in more than four years.

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