CAC 40 Subdued In Cautious Trade

French stocks were little changed in cautious trade on Monday as the China Evergrande Group payment deadline loomed.

Embattled property giant Evergrande needs to make payments on a string of bonds, with the next major deadline to avoid default on Oct 29.

An imminent default of China Evergrande Group might be off the cards for now, but the property developer's troubles seem far from over.

Traders also await the outcome of the European Central Bank's meeting this week for guidance on its pandemic bond-buying program.

The benchmark CAC 40 was down 9 points, or 0.1 percent, at 6,724 after gaining 0.7 percent on Friday.

Sanofi shares were up 1 percent. Regeneron Pharmaceuticals Inc. and the French drug maker announced today positive results from the second Dupixent (dupilumab) Phase 3 Eosinophilic Esophagitis trial that showed significant disease improvements. Data from the clinical trial program will be submitted to regulatory authorities by 2022.

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