CAC 40 Marginally Lower Ahead Of Fed Rate Decision


French stocks were flat to slightly lower on Wednesday after sharp gains in the previous session.


As the pace of new coronavirus infections slows, investors shifted their focus to a U.S. Federal Reserve meeting ending later today and a European Central Bank (ECB) meeting on Thursday for direction.


The benchmark CAC 40 was down 6 points at 4,563 after gaining 1.4 percent in the previous session.


Banks were broadly higher. BNP Paribas advanced 1.6 percent, Credit Agricole jumped about 4 percent and Societe Generale added 2 percent.


Plane maker Airbus rose half a percent. After reporting a consolidated net loss of 481 million euros for the first quarter, the company said the assessment of Covid-19 implications on outlook is in progress.


Oil & gas company Total SA rallied 2.3 percent as oil prices rebounded on the back of lower-than-expected rise in U.S. stockpiles.

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