BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks fell on profit taking Thursday after recent strong gains on hopes of an economic recovery and expectations of more stimulus.
Late Wednesday, the German coalition government agreed to a €130 billion ($211 billion) stimulus package to help Europe's biggest economy recover from the coronavirus crisis.
The European Central Bank is expected to ramp up emergency bond purchases when it reviews its monetary policy later today.
The benchmark CAC 40 was down 15 points, or 0.29 percent, at 5,007 after rising as much as 3.4 percent the previous day.
Banks were moving lower, with BNP Paribas, Credit Agricole and Societe Generale falling between 0.6 percent and 1.6 percent.
Automaker Renault fell 1.2 percent and Peugeot declined 1.4 percent.
LVMH Moet Hennessy Louis Vuitton shares fell 1 percent. The luxury products maker confirmed that it is not considering buying Tiffany & Co. shares on the market.
Spirits company Remy Cointreau jumped 9 percent after it predicted a strong recovery in the second half, driven by China and the United States.
Copyright RTT News/dpa-AFX