CAC 40 Drifts Lower In Cautious Trade

(RTTNews) - French stocks drifted lower on Monday against the backdrop of Europe's tumultuous political backdrop and worries over potential tariffs under the incoming Trump administration in the U.S.

The benchmark CAC 40 was down 32 points, or half a percent, at 7,242 after losing 0.3 percent on Friday.

Insurer AXA and Lender BNP Paribas were moving lower after BNP Paribas Cardif signed an agreement to acquire asset manager AXA Investment Managers.

VINCI dropped half a percent despite winning a water treatment contract in Australia.

Renault was down half a percent after Japanese automakers Nissan and Honda announced they had entered into official talks to merge and create the world's third-largest automaker by sales. Renault owns a minority stake in Nissan.