The CAC 40 dropped 0.6% to 7,434 on Tuesday, ending an eight-session winning streak as significant losses across several stocks weighed on the index.
CAC 40 drops 0.6%, luxury stocks weigh on index
Luxury stocks were among the hardest hit, with LVMH down 1.9%, Kering losing 1.3%, and Hermès falling nearly 1%. Despite renewed stimulus pledges from China, a significant market for the sector, weak trade data raised concerns about declining demand, as exports slowed and imports unexpectedly contracted in November. Other notable losers included Unibail-Rodamco-Westfield, which dropped 2.4%, Publicis, down 2.2%, and Dassault Systemes, which declined 1.6%. On the positive side, Michelin gained 0.5%, Credit Agricole rose 0.5%, and Danone increased by 0.2%.
Market eyes U.S. inflation report ahead of December Fed rate cut decision
Market attention now shifts to the U.S. inflation report on Wednesday, which could influence expectations for a potential Federal Reserve rate cut at the December 18 meeting.
