CAC 40 Falls As Trade Worries Resurface
(RTTNews.com) - French stocks fell on Thursday, with banks pacing the declines after Societe Generale warned that tough market conditions would hit its quarterly results.
Investors also fretted about increasing trade tensions after media reports suggested the U.S. is pursuing criminal charges against Huawei for alleged theft of trade.
The benchmark CAC 40 was down 16 points or 0.32 percent at 4,795 in opening deals after closing half a percent higher on Wednesday.
Lender BNP Paribas fell 1.7 percent, while rival Credit Agricole dropped 1.3 percent and Societe Generale lost over 3 percent.
Automaker Renault declined 0.7 percent and Peugeot shed 0.6 percent on worries about U.S. tariff hikes on imports.
Speed-train maker Alstom edged up slightly after affirming its FY outlook.
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