CAC 40 Drifts Lower As Geopolitical Concerns Weigh

(RTTNews) - France's equity benchmark CAC 40 is down in negative territory Monday morning with stocks from several sectors drifting lower on selling pressure amid concerns about rising geopolitical tensions, the Federal Reserve's independence.

According to reports, U.S. President Donald Trump is weighing options to take action against Iran. Citing U.S. officials, several media outlets said Trump has been shown plans ranging from possible military strikes to action that doesn't include the military.

Fed Chair Jerome Powell said on Sunday that Federal prosecutors opening a criminal investigation related to his Senate Banking Committee testimony on the renovation of Fed office buildings, was another attempt by the U.S. President to influence the Central Bank's monetary policy.

The CAC 40, moving in a narrow range, was down 21.29 points or 0.25% at 8,340.80 a few minutes ago.

Capgemini is declining more than 4%. Stellantis is down 2.4%, while Societe Generale, BNP Paribas, Renault, Euronext, Bureau Veritas, Accor, Veolia Environment and STMicroElectronics are down 1 to 1.6%.

Bouygues, Engie, Legrand, AXA, EssilorLuxottica, Credit Agricole, TotalEnergies and EIFFAGE are down 0.7 to 0.9%.

Meanwhile, Saint Gobain and L'Oreal are gaining 1.3% and 1.15%, respectively. Thales is up nearly 1%, while Hermes International, Eurofins Scientific and Dassault Systmes are moderately higher.