CAC 40 Inches Lower As Macron Holds Crisis Meeting Over Protests

(RTTNews) - French stocks were moving lower on Monday as a slew of factors such as weak data from China and Japan, Italy's budget dispute with the European Union and heightened trade worries sapped investors' appetite for risk.

Meanwhile, French President Emmanuel Macron is set to hold talks with trade unions and employers' organizations today, in a bid to defuse weeks of unrest in Paris and other cities over rising gas prices and taxes.

The benchmark CAC 40 was down 32 points or 0.67 percent at 4,780 in opening deals after gaining 0.7 percent on Friday.

Automaker Renault dropped 1.4 percent and Peugeot fell nearly 2 percent on worries over potential U.S. tariffs.

Airbus slid half a percent after reports that it is in discussions with governments and private customers from the Middle East for corporate jets.

Air France KLM rallied 1.5 percent after its total group (Air France, KLM, HOP! and Transavia), traffic measured in revenue pax-kilometers increased 4.8 percent year-over-year for November.

In economic news, France's economy is set to expand at a slower rate in the fourth quarter than estimated earlier, survey data from Bank of France showed.

The bank revised down its growth forecast for the fourth quarter by 0.2 percentage point to 0.2 percent.
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