CAC 40 Modestly Lower As Tariff Concerns Weigh

(RTTNews) - France's equity index CAC 40 drifted lower on Monday as U.S. President Donalt Trump's tariff threat on Canada, and renewed geopolitical concerns weighed on sentiment. Also, investors remained a bit cautious ahead of the Federal Reserve's monetary policy announcement, due on Wednesday.

Trump, who withdrew the Greenland tariff threat lost week, has warned that Canada could face 100% tariffs if it strikes a trade deal with China.

The CAC 40 was down 26.90 points or 0.33% at 8,116.15 about half an hour past noon.

Shares of food giant Danone slipped more than 4.5% after the company announced it was recalling specific baby formula batches in targeted markets.

EssilorLuxottica lost 2%. STMicroElectronics, Airbus, Stellantis, Euronext and Safran lost 1.3 to 2%.

Capgemini and Accor both shed more than 1%. Michelin, Dassault Systemes, L'Oreal, Thales, Schneider Electric, Pernod Ricard, Renault, Vinci and LVMH drifted lower by 0.5 to 0.9%.

TotalEnergies gained about 1.75%. The company has reached an agreement with the Libyan government to extend its oil and gas exploration concession in the Waha oil field until 2050.

Societe Generale and Orange moved up 1.6% and 1.5%, respectively. Veolia Environment lost 1.4% and Engie declined by about 1.1%.

Credit Agricole lost nearly 1%, while ArcelorMittal, Unibail Rodamco, Carrefour and Sanofi posted modest gains.