CAC 40 Moderately Lower In Cautious Trade

(RTTNews) - French stocks are under a bit of pressure on Wednesday amid uncertainty about Ukraine-Russia peace talks, and a lack of positive progress on the trade front. The recent downgrade of U.S. sovereign credit rating by Moody's weigh as well on investor sentiment.

Investors are also closely monitoring discussions on the U.S. budget bill and federal deficit.

The benchmark CAC was down 58.88 points or 0.74% at 40 7,883.54 a little while ago.

Kering and LVMH, both are down nearly 2%. Hermes International, Saint Gobain and Stellantis are down 1.7%, 1.6% and 1.5%, respectively.

Teleperformance, Schneider Electric, STMicroElectronics, Michelin, Legrand, Pernod Ricard, Essilor, Air Liquide, Publicis Groupe and Safran are lower by 0.5 to 1.3%.

Edenred, Carrefour, BNP Paribas, Thales, Veolia Environment and Capgemini are up with modest gains.