CAC 40 Edges Lower In Cautious Trade

French stocks were moving lower on Monday as caution set in after recent record gains on optimism about the reopening of economies.

The benchmark CAC 40 was down 12 points, or 0.2 percent, at 6,373 after rising half a percent on Friday.

Banks were broadly higher, with Credit Agricole rallying as much as 2.5 percent and Societe Generale adding 2.7 percent.

Capgemini shares edged down slightly after the IT major said it has agreed to buy Multibook's SAP global services line.

In economic releases, Eurozone investor confidence improved to the highest level in more than three years in May, survey results from Sentix showed.

The investor confidence index rose notably to 21.0 in May from 13.1 in April, suggesting that the recession caused by the coronavirus has been overcome. The score was the highest since March 2018.

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