BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks fell sharply on Tuesday as investors awaited meetings by the Federal Reserve and the European Central Bank this week as well as the outcome of Britain's snap election Thursday for directional cues. The looming Dec. 15 deadline for new U.S. tariffs on China also weighed on markets.
The benchmark CAC 40 was down 47 points, or 0.8 percent, at 5,790 after declining 0.6 percent on Monday.
Sanofi shares jumped more than 5 percent. The pharmaceutical company said that it would discontinue research in diabetes and cardiovascular diseases and would not pursue plans to launch efpeglenatide, as part of a restructuring.
In economic releases, French payroll employment increased in the third quarter driven by job creation in the private sector, data from the statistical office Insee showed.
Payroll employment grew 42,300 or 0.2 percent in the third quarter. Job creation had increased by a similar 0.2 percent in the second quarter.
Employment rose by 33,700 in the private sector and by 8,600 in the public sector.
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