Economic news

Review: CAC 40 slips down amid banking stocks reduction

French stocks edged down on Monday as banking stocks turned in fall, neutralizing investor optimism over further transactions in the automotive sector.

Growing geopolitical concerns and signs that the US Federal Reserve is turning in the direction of higher interest rates in March also made investors nervous on a light day on the economic front.

The CAC 40 fell by 0.40% to 4.974 points at the opening after increasing by 0.6% on Friday.

Peugeot shares rose by 2% after PSA Group, the manufacturer of Peugeot and Citroen vehicles, agreed to buy a unit of General Motors Co. - Opel for 2.2 billion euros.

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