French stocks struggled for direction in early trade on Friday amid concerns that the Federal Reserve may tighten its monetary policy sooner than expected, if inflation surprises to the upside.
Amid a lack of clarity over the direction of price pressures, investors now await a key U.S. inflation indicator, when the Commerce Department releases the core personal consumption expenditures index.
The benchmark CAC 40 index slipped 7 points, or 0.1 percent, to 6,623 after climbing 1.2 percent in the previous session.
Banks BNP Paribas and Credit Agricole rose modestly after Reuters reported that Credit Suisse was considering a potential merger with UBS.
Ophthalmic company EssilorLuxottica SA was marginally higher. The company announced the renewal of an exclusive license agreement with New York-based fashion brand Coach, part of Tapestry, Inc. (TPR).
The five-year deal is for the design, production and worldwide distribution of prescription frames and sunglasses globally under the Coach Eyewear brand.
Market Analysis
CAC 40 Slips Ahead Of US Inflation Data
2021-06-25 08:22:38
