French stocks struggled for direction in early trade on Monday after Federal Reserve Chair Jerome Powell reiterated the central bank’s stance to move carefully on rate cuts and a survey showed activity in France’s services sector contracted for the eighth straight month in January.
The benchmark CAC 40 was marginally lower at 7,587 after finishing marginally higher on Friday.
Societe Generale rose slightly. The lender announced that the implementation of organizational changes would result in approximately 900 job cuts at its head office without forced departures.
Supermarket group Casino added 1.5 percent after confirming that it has received expressions of interest for its hypermarket and supermarket stores.
Automaker Renault jumped more than 3 percent on speculation over a potential combination with rival Stellantis.
Market Analysis
CAC 40 Struggles For Direction As Service Sector Contracts Again
2024-02-05 09:19:48
