CAC 40 Subdued On Taper Worries
(RTTNews) – French stocks were subdued on Friday and Euro zone bond yields held steady as investors awaited Fed Chairman Jerome Powell’s speech at the Jackson Hole symposium for clues about the timeline for tapering stimulus.
Powell is due to speak at this year’s virtual Jackson Hole summit at 10 a.m. ET after several Fed officials suggested that the easing will take place sooner rather than later.
In economic releases, investors shrugged of a survey showing that French consumer confidence eased marginally in August.
The benchmark CAC 40 was down 2 points at 6,664 after closing 0.2 percent lower in the previous session.
Banks BNP Paribas, Credit Agricole and Societe Generale fell between half a percent and 1 percent while automaker Renault was little changed.
Auto parts maker Faurecia jumped 2.2 percent after Citigroup hiked its target price on the stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.