CAC 40 Slips Into Red In Lackluster Trade

(RTTNews) - French stocks traded lower on Tuesday as traders looked ahead to a European Central Bank policy meeting due later in the week for clues on the timing and pace of interest-rate cuts.

Investors were also reacting to reports suggesting that Chinese authorities are considering a package of measures to stabilize the country's slumping stock market.

The benchmark CAC 40 was down 19 points, or 0.3 percent, at 7,393 after rising 0.6 percent the previous day.

Healthcare firm Sanofi fell about 1 percent after it agreed to buy the U.S. biotech Inhibrx Inc. for as much as $2.2 billion.

Ipsen SA rose about half a percent after its phase-three trial of prostate cancer drug Cabometyx yielded positive results.