BRUSSELS (dpa-AFX) - After opening on a firm note, French stocks gave up some gains Monday morning as investors turned a bit cautious, looking ahead to some crucial earnings and economic data due this week.
The positive start came amid easing concerns over tariff as the U.S. and EU arrived at a trade deal over the weekend.
U.S. President Donald Trump announced on Sunday that and EU have 'reached a deal' as per which America will impose a 15% tariff on products - including automobiles and semiconductors - coming into the country from EU. However, steel and aluminum will remain subject to a 50% tariff, but only on volumes exceeding agreed-upon quotas. Aerospace components, certain chemicals, and raw materials will be entirely exempt from duties.
'We have reached a deal. It's a good deal for everybody,' Trump said. EU chief Ursula von der Leyel also reportedly hailed a 'good deal' with America.
In an interaction with media in Scotland, Trump announced that the EU had pledged additional investments of $600 billion in the US, alongside energy purchases amounting to $750 billion.
The benchmark CAC 40 advanced to 7,931.15 earlier in the session, but has dropped down a bit subsequently. The index was last seen at 7,875.81, up 41.23 points or 0.53% from previous close.
STMicroElectronics is gaining nearly 3.5%. Legrand is up 1.8%, while Safran, Capgemini, Michelin, Sanofi, TotalEnergies, Schneider Electric, Unibail Rodamco, Dassault Systemes and AXA are up 1 to 1.6%.
Airbus, Air Liquide, LVMH, EssilorLuxottica, Accor and Societe Generale are also up in positive territory with notable gains.
Thales is down by about 3.2%. Carrefour is declining 2.1%, and Pernod Ricard is down 1.7%.
Kering and Orange are down 1.2% and 1.1%, respectively. Publicis Groupe, Eurofins Scientific, Bouygues and Teleperformance are modestly lower.
On the economic front, French GDP and inflation data are due this week.
On the earnings front, Air Liquide, Orange, Hermes International, Airbus, Danone, Sanofi, Schneider Electric, Safran, Vinci, Credit Agricole and Societe Gernerale, AXA and Engie are slated to report their earnings this week.
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