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CAC 40 Slides Amid Euro Strength

French stocks were modestly lower on Monday as a firmer euro offset optimism over easing trade tensions between the U.S. and China as well as signs of political stability in Italy.

The euro edged higher for a third consecutive session after European Central Bank policy maker Francois Villeroy de Galhau said the end of net asset purchases by ECB is approaching and that whether it will be in September or December is not a deep existential question.

The benchmark CAC 40 index was down 11 points or 0.19 percent at 5,531 in opening deals after closing 0.1 percent lower on Friday.

Airbus shares dropped 1.6 percent. The aerospace and defense major has said that its Chief Financial Officer, Harald Wilhelm, 52, has decided to leave the Company in 2019 in agreement with the Board of Directors.

On the data front, France's economy is set to expand at a steady pace of 0.3 percent in the second quarter, according to a monthly survey from the Bank of France. The manufacturing sentiment index fell slightly to 102 in April from 103 in March.

by RTTNews Staff Writer

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