CAC Index Drops 1.66 Percent, After French Stocks Rally Three Days

CAC Index Down 1.66 Percent,. (photo: doc. between)

JAKARTA - French stocks ended lower on Monday, May 2 local time, snapping a three-day straight rally, with the benchmark CAC 40 index on the Paris Stock Exchange falling 1.66 percent, or 108.16 points, to settle at 6,425.61 points.

The CAC 40 index added 0.39 percent, or 25.63 points, to 6,533.77 points on Friday April 29, after gaining 0.98 percent, or 62.88 points, to 6,508.14 points on Thursday April 28, and was up 0.48 percent. or 30.69 points to 6,445.26 points on Wednesday 27 April.

Of the 40 stocks of selected large companies that are components of the CAC 40 index, only two stocks managed to record profits, while 38 other stocks experienced losses.

ArcelorMittal, a French multinational steel manufacture company suffered the biggest loss (top loser) of the blue chips, with its share price losing 4.05 percent.

It was followed by French multinational aerospace and defense systems and equipment supplier Safran which slipped 3.47 percent, and the French multinational that provides digital energy and automation solutions for efficiency and sustainability Schneider Electric fell 3.46 percent.

Quoted from Antara, Carrefour, a company that operates supermarkets, hypermarkets, cash and carry stores, and e-commerce websites, rose 1.14 percent, becoming the top gainer of leading stocks.

Followed by shares of French property company and commercial real estate developer Unibail-Rodamco-Westfield which rose 0.12 percent.