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CAC 40 Retreats Ahead Of US Inflation Data

French stocks retreated on Thursday as investors awaited the latest inflation reading from the U.S. for clues on the Federal Reserve's monetary policy path.

The Labor Department is scheduled to publish its consumer price index data at 8:30 a.m. ET.

Traders also geared up for the European Central Bank meeting, with many expecting the central bank to extend its phase of faster bond-buying through the summer to ensure the economic rebound from the coronavirus pandemic.

The benchmark CAC 40 index fell 18 points, or 0.3 percent, to 6,545 after rising 0.2 percent in the previous session.

Automakers lost ground, with Renault falling more than 1 percent.

Shares of digital music company Believe were moving lower on the first day of trading.

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