BRUSSELS (dpa-AFX) - French stocks are down in negative territory on Wednesday as investors assess the impact of impending reciprocal tariffs from U.S. President Donald Trump that are set to take effect next week.
Investors are also awaiting clarity on proposed new levies on autos, pharmaceuticals, and on nations that import crude from Venezuela. Data showing a drop in French consumer sentiment in the month of March is also weighing on sentiment.
The benchmark CAC 40, which dropped to 8,032.95 earlier in the session, was down 46.93 points or 0.58% at 8,061.66 a few minutes ago.
Michelin, the biggest loser in the benchmark index, is down 4.8%. Sanofi is declining 2.5% and ArcelorMittal is down nearly 2%.
Hermes International, STMicroElectronics, Perond Ricard, BNP Paribas, Safran, Airbus Group, Air Liquide, Bureau Veritas, Orange, Eurofins Scientific and Essilor are down 1 to 1.7%.
TotalEnergies is gaining 2.8%. Stellantis, Capgemini and Kering are modestly higher, while Engie is up marginally.
Monthly survey data from the statistical office INSEE showed French consumer sentiment weakened in March largely due to the deterioration in households' view about future financial situation.
The consumer confidence index fell unexpectedly to 92 in March from 93 in February. The reading was expected to rise to 94.
The survey showed that households' balance of opinion related to their future personal financial situation weakened the most in March, down by seven points to -11. The one related to their past personal financial situation dropped one point to -21 and returned to its long-term average.
Further, the proportion of households believing it is a good time, in the current economic situation, to make major purchases picked up to -26 from -28.
The indicator measuring the current saving capacity dropped one point, while the expected saving capacity remained unchanged in March.
French consumers view on future standard of living deteriorated, with the index falling to -50 from -47. By contrast, the one related to past standard of living gained one point to -69.
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