02.07.2024 11:04:40 - dpa-AFX: CAC 40 Drifts Lower Ahead Of Powell's Speech

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks declined on Tuesday as
political and policy uncertainty weighed ahead of a second-round vote on July 7.

Market participants predict a hung parliament, which would risk policy paralysis
for the rest of Macron's presidency till 2027.

Traders also await the release of euro zone inflation data and comments from
Federal Reserve Chair Jerome Powell later in the day for near-term directional
cues.

The benchmark CAC 40 dropped 45 points, or 0.6 percent, to 7,516 after rallying
1.1 percent in the previous session.

The U.S. dollar got a lift from a pop higher in Treasury yields following the
U.S. Supreme Court's ruling that presidents, including Donald Trump, have broad
immunity from prosecution.

In corporate news, food services and facilities management firm Sodexo S.A.
plunged 5 percent after Q3 sales lagged expectations.



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Copyright RTT News/dpa-AFX
Name WKN Börse Kurs Datum/Zeit Diff. Diff. % Geld Brief Erster Schluss
CAC 40 969400 Paris 7.695,52 04.07.24 15:30:15 +63,44 +0,83% - - 7.677,34 7.632,08
FTSE 100 969378 Financial Times SE 8.249,76 04.07.24 15:30:28 +78,64 +0,96% - - 8.171,12 -
DAX ® 846900 Xetra 18.456,45 04.07.24 15:30:28 +81,92 +0,45% - - 18.375,96 18.374,53
E-STOXX 50 ® 965814 STOXX Ltd. 4.989,48 04.07.24 15:30:15 +23,68 +0,48% 0,000 - 4.972,67 4.965,80

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