French stocks fell in cautious trade on Thursday as investors await the outcome of Russia-Ukraine peace talks in Turkey. Ukraine’s foreign minister warned that his expectations of the talks are low.
Traders also await a European Central Bank policy meeting later in the day for clues on inflation strategy and rate hikes in light of Russia’s invasion of Ukraine.
The benchmark CAC 40 was down 130 points, or over 2 percent, at 6,258 after rallying 7.1 percent on Wednesday.
U.S. stock futures also pulled back after the S&P logged its best session since June.
Banks BNP Paribas, Credit Agricole and Societe Generale all fell over 3 percent while automaker Renault lost 3.8 percent.
Media group Vivendi gained 0.8 percent after it reported a doubling in core operating earnings in 2021.
Market Analysis
CAC 40 Drops As Russia, Ukraine Diplomats Begin Talks
2022-03-10 09:18:57
