The star CAC 40 index fell 86.05 points to 6,272.69 points around 9:40 a.m.

The day before, it had risen by 1.17%.

"It's still too early to return to the market" believe analysts at Saxo Bank, even if "opportunistic purchases can still make sense", according to them.

They judge that "the profit forecasts of many listed companies are still too optimistic" in relation to the macroeconomic situation, and in particular the impact of inflation.

After the breath of fresh air on the indices on Monday, driven by the hope of a reduction in customs duties between China and the United States, geopolitical friction with the visit of American President Joe Biden to Asia and fears over global growth are coming back to investors' minds.

In China, the government has announced a new round of measures, intended to "get the economy back on track", according to the New China agency, in the face of the threat of a drop in activity due to confinements in the major cities in the country.

But that did not prevent Chinese markets from being in the red.

In Europe, markets await PMI activity indicators for the month of May.

In France, growth in the private sector slowed down in May while remaining at a high level thanks to services, while the business climate remained stable in May.

The markets are also awaiting a speech from ECB President Christine Lagarde on Tuesday.

Capital increase for Air France

The Air France-KLM airline group announced on Tuesday the launch of a new capital increase of 2.26 billion euros, thus hoping to put an end to the Covid-19 crisis which had devastating effects on its activity and its finance.

The French and Dutch States wish to take part in this operation and keep the same level of capital, while the two other main current shareholders, the Chinese companies China Eastern and the American company Delta Air Lines, will see their participation reduced in favor of a new entrant. , the French shipowner CMA CGM which will invest up to 400 million euros, the company said in a press release.

The action plunged 6.26% to 4.08 euros.

On the CAC 40 index, the equipment manufacturer Safran was the biggest drop, by 2.85% to 93.39 euros.

Airbus also fell by 2.05% to 104.98 euros.

© 2022 AFP