logo
Plus   Neg
Share
Email

CAC 40 Inches Lower As Auto Stocks Drag

French stocks were moving lower on Tuesday as trade worries, escalating tensions in Hong Kong after months of political unrest and Argentine President Mauricio Macri's loss in primary elections sent investors scrambling for safe-haven assets such as the yen, gold and bonds.

Investors also kept a close eye on Italy, where the Senate meets today to set a crucial date for a no-confidence vote that could spell the end of Prime Minister Giuseppe Conte's populist government.

The benchmark CAC 40 was down 11 points or 0.21 percent at 5.299 after losing 0.3 percent on Monday.

Banks BNP Paribas, Credit Agricole and Societe Generale were down around half a percent each as global bond yields continued to drop towards record lows.

Automaker Renault slumped 2.8 percent and Peugeot lost over 2 percent after industry data showed China's auto sales sank again in July, extending a yearlong contraction in the industry's biggest global market.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT