(RTTNews) – French shares headed lower on Tuesday as China reported mixed trading data and investors looked to Fed Chairman Jerome Powell’s speech on Wednesday and Thursday for more clarity on the US interest rate outlook.
Chinese exports shrank by 6.4 percent year on year in October, while imports unexpectedly grew by 3.0 percent, marking eleven consecutive months of decline. Official figures showed the recovery in the world’s second-largest economy remains uneven despite a raft of government stimulus measures. measures.
The benchmark CAC 40 fell 17 points, or 0.2 percent, to 6,997.
Engie gained about 1 percent. The energy company raised its full-year outlook after reporting earnings before interest and taxes of 8.322 billion euros for the nine-month period, up 14.7 percent from 7.254 billion euros in the same period a year ago.
Capgemini was marginally lower. The IT company recorded a decline in revenue for the third quarter of 2023, amid challenging macroeconomic conditions.
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