French Market Moderately Lower, Safran Weak

(RTTNews) - The French market fell on Monday, along with most other major markets in the region, even as Germany advanced on the strength of utilities.

On the economic front, the French current account balance showed a surplus in August. The current account surplus totaled 0.2 billion euros in August, in contrast to a 0.4 billion euros deficit seen a month ago, the Bank of France said.

Implementing structural reforms as demanded by Greece's lenders would bring the country's economy back to growth path, European Central Bank Governor Mario Draghi said in an interview with Sunday's edition of Kathimerini newspaper.

"The Greek government will have to show that it has assumed ownership of the program and that it is determined to fulfill its requirements," he said. Greece faces a 447 million euros payment to the International Monetary Fund on Tuesday.

The Euro Stoxx 50 index of eurozone bluechip stocks slipped 0.10 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, fell 0.27 percent.

The CAC 40 index fell 0.50 percent.

Safran declined about 4 percent. Media reports suggest European watchdogs have begun a probe into whether airlines are being forced to enter anti-competitive aircraft maintenance contracts.

Oil-services provider Technip dropped 3.6 percent. Airbus dropped 2.5 percent.

Cap Gemini dropped around 2 percent after Indian peer Infosys Technologies reported second-quarter results.

Bucking the trend, electric utility EDF climbed 2.7 percent. Renault added 2.1 percent while Peugeot gained moderately.

Other markets in the region were mostly trading lower.

The Asian stocks rose broadly, although gains remained muted outside China and Hong Kong. Trading activity remained somewhat subdued in the wake of a public holiday in Japan.

In the U.S., futures point to a lower open on Wall Street. In the previous session, stocks posted modest gains, with the Dow Jones Industrial Average notching a six-session winning streak to close at its highest level in over a month, as investors bet on low rates.

Crude for November delivery rose $0.33 to $49.96 per barrel, while December gold rose $9.5 to $1165.4 a troy ounce.