BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks were moving lower on Tuesday as coronavirus cases continued to soar in the United States, raising concerns the economic recovery from the pandemic will be slow and uncertain.
The benchmark CAC 40 dropped 55 points, or 1.08 percent, to 5,026 after gaining 1.5 percent on Monday.
Catering and food services group Sodexo plunged 5.3 percent. The company warned that its fourth-quarter and half-year sales will fall more sharply than previously expected.
Banks were moving lower after sharp gains in the previous session. BNP Paribas and Credit Agricole fell around 1 percent while Societe Generale declined 1.5 percent.
Geoscience technology company CGG fell 1.5 percent. The company announced that Sercel has acquired a 34 percent shareholding in start-up AMBPR.
Telecommunications operator Orange SA was down 1.4 percent after announcing the appointment of Julien Ducarroz as CEO of Orange Polska, and Xavier Pichon as CEO of Orange Belgium.
Copyright RTT News/dpa-AFX