(RTTNews) - France's benchmark index CAC 40 drifted lower on Monday as stocks from across several sectors fell on selling pressure as U.S.-Iran peace talks failed following U.S. President Donald Trump rejecting Iran's latest proposal to end the conflict. Higher crude oil prices weighed as well on sentiment.
Iran said it would continue using both "the weapon of diplomacy" and military resistance whenever it considers necessary to protect national interests.
Iranian Foreign Ministry spokesperson Esmaeil Baqaei said the U.S. has committed a breach of trust in every diplomatic process it has participated in over the past 20 years.
The CAC 40 was down 88.56 points or 1.09% at 8,024.01 a few minutes ago.
LVMH dropped nearly 4%. Hermes International, Renault, Airbus, L'Oreal and Kering lost 2%-2.5%.
Safran drifted down by about 1.9%, while Saint Gobain, Eurofins Scientific, Eiffage, Pernod Ricard and Thales lost 1.1%-1.4%. Vinci, Stellantis, Danone and Capgemini also showed weakness.
STMicroelectronics climbed 1.7%. Orange and AXA moved up 1.5% and 1.4%, respectively. Carrefour, TotalEnergies and BNP Paribas gained 1%-1.1%.
Engie, Bouygues, ArcelorMittal and Credit Agricole posted modest gains.
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