BRUSSELS (dpa-AFX) - The French stock market's key index CAC 40 slipped into negative territory after a flat start Wednesday morning as investors continued to stay cautious amid trade war jitters following U.S. President Donald Trump's tariff threats.
Trump said on Tuesday that he will impose a 200% tariff on Fench wines and Champagnes, a move he claimed would push French President Emmanuel Macron to ?join the Board of Peace initiative aimed at resolving ?global conflicts.
Investors also awaited U.S. President Donald Trump's speech at the World Economic Forum in Davos.
The CAC 40 was down 16.55 points or 0.21% at 8,046.03 a few minutes ago. The index had edged up to 8,076.18 in early trades.
Danone tumbled nearly 6.5%, weighed down by rating downgrades by analysts. Bank of America has reiterated its underperform rating on the stock and slightly lowered its price target.
Euronext lost about 2.25%, while Societe Generale and Unibail Rodamco slipped by 1.7% and 1.6%, respectively. BNP Paribas, AXA, Engie, Bouygues, Schneider Electric and Credit Agricole lost 0.7% to 1%.
Among the gainers, ArcelorMittal climbed 3.6%, Pernod Ricard moved up 3.4% and Renault advanced 2.3%.
Veolia Environment, LVMH, TotalEnergies, Kering, Michelin, STMicroElectronics and L'Oceal slid 0.6% to 1.1%.
https://in.investing.com/indices/france-40 https://live.euronext.com/en/product/indices/FR0003500008-XPARtop-performers-indices_2384 https://www.marketscreener.com/news/danone-plummets-on-the-stock-market-ce7e58dddf80f324
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