Markets

CAC 40 Gives Up Early Gains

(RTTNews) - French stocks gave up early gains to turn flat on Tuesday as virus concerns lingered and investors awaited a slew of Fed speeches for clues on further stimulus measures to revive the coronavirus-battered economy.

Fed Chair Jerome Powell and U.S. Treasury Secretary Steven Mnuchin will speak later in the day at a Congressional panel.

The benchmark CAC 40 war marginally lower at 4,791 in choppy trade after plummeting 3.7 percent in the previous session.

LVMH shares edged down slightly as U.S. jewelry brand Tiffany & Co won approval by the Delaware Chancery Court to have its lawsuit against the French conglomerate fast-tracked. However, the court has not agreed to Tiffany's request for trial before November 24.

Plane maker Airbus SE tumbled 3.5 percent. CEO Guillaume Faury told French radio station RTL that the situation is so serious and no one can guarantee there won't be compulsory redundancies, if the situation evolves further.

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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