BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French shares retreated on Monday as banking stocks declined, offsetting investor optimism over fresh deal making activity in the auto sector.
Rising geopolitical worries and signs that the U.S. Federal Reserve is swinging toward a March rise in interest rates also kept investors nervous on a light day on the economic front.
The benchmark CAC 40 was down 20 points or 0.40 percent at 4,974 in opening deals after rising 0.6 percent on Friday.
BNP Paribas and Societe Generale fell more than 1 percent after their German peer Deutsche Bank unveiled plans to raise around 8 billion euros through a share sale to shore up capital.
Sanofi shares slid half a percent. Regeneron Pharmaceuticals, Inc. and the French drugmaker have announced positive data from long-term pivotal phase 3 CHRONOS study of DUPIXENT (dupilumab) in moderate-to-severe atopic dermatitis.
Cosmetics and beauty products giant L'Oreal edged down marginally after finalizing the acquisition from Valiant of skincare brands CeraVe, AcneFree and Ambi.
Peugeot shares rallied 2 percent after PSA Group, the maker of Peugeot and Citroen cars, agreed to buy General Motors Co.'s Opel unit in a transaction valued at 2.2 billion euros.
In economic releases, Eurozone investor confidence rose to the highest level in almost 10 years in March, survey data from Sentix showed today. The Sentix investor confidence rose more-than-expected to 20.7 from 17.4 in February. The reading was forecast to rise to 18.5.
Copyright RTT News/dpa-AFX