PARIS (Reuters) – The main European stock markets are in the red at the start of the session on Tuesday as the uncertainties linked to negotiations on the raising of the American debt weigh on the market climate.
In Paris, the CAC 40 lost 0.56% to 7,436.28 points around 08:15 GMT, weighed down by Vivendi.
In London, the FTSE 100 fell 0.08% and in Frankfurt, the Dax fell 0.09%.
The EuroStoxx 50 index is down 0.32%, the FTSEurofirst 300 0.3% and the Stoxx 600 0.24%.
US President Joe Biden and House of Representatives speaker Kevin McCarthy had a “productive” meeting on Monday but failed to reach an agreement on raising the US federal debt ceiling.
Discussions will continue at the highest level to try to avoid a default of payment by the United States which could take place as early as June 1, according to the Treasury Secretary.
Macroeconomic news resumed with the publication of the preliminary results of the S&P surveys of purchasing managers, which revealed a slight slowdown in activity in both industry and services in the euro zone.
On the stock market, the biggest drop in the CAC 40 went to Vivendi, which fell 6.76%, traders citing the sale of shares by Compagnie de Cornouaille.
Swiss bank Julius Baer lost 7.74% after reporting a modest increase in fund inflows in the first four months of the year.
On the rise, Rallye, Casino’s parent company, took 4.09% after the announcement of the opening of conciliation proceedings with its creditors by the Paris Commercial Court. The listing of Casino shares was also suspended on Tuesday at the request of the company, pending the publication of a press release.
(Laetitia Volga, editing by Kate Entringer)
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