BRUSSELS (dpa-AFX) - The French stock market's CAC 40 drifted lower Friday morning, extending losses to a fifth straight session, as geopolitical tensions and uncertainty surrounding French budget negotiations weighed on sentiment.
The French government has postponed parliamentary discussions on its budget to next Tuesday. The discussions were originally scheduled to take place today.
Greenland worries returned to the fore, with media reports suggesting that European troops are landing in the country to defend it against real U.S. military threat.
The deployment of troops from several European countries and other North Atlantic Treaty Organization (NATO) allies was announced after high-level negotiations between Denmark and U.S. officials ended in stalemate on Thursday.
The CAC 40 was down 29.25 points or 0.35% at 8,283.87 about a quarter before noon.
Kering, EssilorLuxottica and Renault lost 3.4%, 3.2% and 2.3%, respectively. Dassault Systemes, Stellantis, LVMH, Air Liquide, Schneider Electric, Hermes International and Saint Gobain slipped 1.1 to 1.7%.
STMicroElectronics, Sanofi, Carrefour, Pernod Ricard, Legrand and ArcelorMittal also showed weakness.
Thales climbed 2.75%. Orange advaanced by 1.85% and Publicis Groupe gained 1.7%. Accor moved up 1.4%, while Airbus gained nearly 1%.
Safran, Vinci, Eurofins Scientific, Bouygues, AXA and Eiffage also moved higher.
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