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CAC 40 Slides Ahead Of Powell's Testimony

(RTTNews) - French stocks were moving lower on Tuesday as optimism on U.S.-China trade talks faded and caution set in ahead of the second summit between U.S. President Donald Trump and North Korean leader Kim Jong Un.

The summit, due this week, will be focused on the denuclearization agreement that Trump and Kim signed in the Singapore summit last summer.

Investors also awaited Federal Reserve Chairman Jerome Powell's testimony before Congress for fresh clues about the outlook for U.S. interest rates.

The benchmark CAC 40 was down 15 points or 0.29 percent at 5,216 in opening deals after closing 0.3 percent higher on Monday.

In stock-specific action, technology company Thales dropped 1.8 percent. After reporting a rise in FY18 profit, the company forecast higher EBIT and organic sales in FY19.
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