CAC 40 Choppy In Early Trade




French stocks gave up earlier gains to turn lower on Tuesday as coronavirus worries offset expectations of more stimulus.


The G7 leaders said in a statement following an emergency video conference that they will coordinate measures and do whatever it takes, using all policy tools, to achieve strong growth in the G7 economies and to safeguard against downside risks.


French President Emmanuel Macron sought to reassure businesses by offering them more fiscal aid. "No French company, whatever its size, will be exposed to the risk of collapse," he said.


France's financial market regulator, the Autorité des Marchés Financiers, has banned short selling in 92 shares.


European Commission President Ursula von der Leyen on Monday proposed a 30-day ban that would cover all 27 EU countries except Ireland.


The benchmark CAC 40 was down 19 points, or 0.51 percent, at 3,861 after plummeting 5.8 percent the previous day.


Airbus SE shares slumped over 6 percent. The company said that it has decided to temporarily pause production and assembly activities at its French and Spanish sites across the company for the next four days.


The move follows the implementation of new measures in France and Spain to contain the COVID-19 pandemic.


Renault rose about 2 percent. The company has decided to stop its industrial activity in Spain for the duration of the state of emergency.


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