CAC 40 Drifts Lower Amid Lack Of Major Catalysts

French stocks traded lower on Monday and the euro was under pressure in the absence of high-tier data releases.

ECB policymaker Gediminas Simkus said today that rates could get lower than the natural level between 2 percent and 3 percent, if a fall in inflation becomes entrenched.

The benchmark CAC 40 dropped 16 points, or 0.20 percent, to 7,597 after rising 0.4 percent on Friday.

Pharmaceutical company Sanofi was moving lower after it has entered into exclusive negotiations to sell a 50 percent controlling stake in its consumer healthcare business, Opella, to private equity firm CD&R.

Forvia, the world’s seventh largest car parts supplier by revenue, jumped nearly 9 percent after beating Q3 sales expectations.