CAC 40 Little Changed; Sanofi Shares Surge Over 2%
(RTTNews) - French stocks were little changed on Monday as caution crept in ahead of a highly-anticipated U.S. Federal Reserve meeting and the latest round of trade talks between top U.S. and Chinese officials scheduled to take place in Shanghai beginning on Tuesday.
Interest rate futures are fully priced for a quarter-point rate cut from the Federal Reserve when the Federal Open Market Committee ends its two-day policy meeting on Wednesday.
The benchmark CAC 40 was down 4 points at 5,605 after rising 0.6 percent on Friday.
Sanofi rallied 2.5 percent. The pharmaceutical company revised upward its guidance for full-year business EPS growth to approximately 5 percent after recording a solid business performance in the second quarter, led by the strong launch of Dupixent driven by the accelerated uptake in atopic dermatitis and asthma in the U.S.
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