(MENAFN - Kuwait News Agency (KUNA)) Share prices on the Paris Stock Exchange retreated almost three percent Tuesday on concern that there will be split between Germany and France over the deficit reduction and fiscal treaty adopted several months ago.
The CAC 40 index of preference shares fell 2.78 percent to 3,124.80 points and the index has lost over 3.0 percent in the past week.
Volume was moderately active, traders said, at just above USD four billion.
President-elect Francois Hollande has said he would go to Germany on May 16 to renegotiate what he said is an "austerity package" and will insist on measures to bolster growth in the EU.
But German Chancellor Angela Merkel says the treaty is not negotiable and markets are jittery about the outcome, in addition to having growing concerns about the chaotic situation in Greece, traders said.
Meanwhile, the Euro lost 0.39 percent Monday to trade at USD 1.3009. The Euro currency has lost about 2.0 cents since the French election last Sunday, when Socialist Hollande was chosen over incumbent Conservative Nicolas Sarkozy.