The main European stock markets were in the red at the start of trading on Tuesday, as uncertainties linked to negotiations on raising the US debt burden weighed on market sentiment.
In Paris, the CAC 40 lost 0.56% to 7,436.28 points at around 08:15 GMT, weighed down by Vivendi.
In London, the FTSE 100 lost 0.08%, and in Frankfurt, the Dax was down 0.09%.
The EuroStoxx 50 index fell by 0.32%, the FTSEurofirst 300 by 0.3% and the Stoxx 600 by 0.24%.
US President Joe Biden and House Speaker Kevin McCarthy had a "productive" meeting on Monday, but failed to reach agreement on raising the US federal debt ceiling.
Discussions will continue at the highest level in an attempt to avoid a US default, which could occur as early as June 1, according to the Secretary of the Treasury.
Macroeconomic news picks up with the publication of the preliminary results of S&P's purchasing managers' surveys, which point to a slight slowdown in activity in both industry and services in the euro zone.
On the stock market, the biggest faller on the CAC 40 was Vivendi
which fell by 6.76%, with traders citing the sale of shares by Compagnie de Cornouaille.
Swiss bank Julius Baer lost 7.74% after reporting a modest increase in cash inflows in the first four months of the year.
Rallye, parent company of Casino
gained 4.09% after the Paris Commercial Court announced the opening of a conciliation procedure with its creditors. Trading in Casino shares was suspended on Tuesday at the company's request, pending publication of a press release. (Laetitia Volga, edited by Kate Entringer)
Vivendi SE consists of several leading companies in the content production, communication and media:
- Groupe Canal +: a leading operator in pay television in France, Benelux, Poland, Central Europe, Africa and Asia;
- Lagardère: publishing, media and travel retail group;
- Studiocanal: Europe's leading player in the production, acquisition, distribution and international sales of films and TV series;
- Havas: a world-leading communications group organized into three operating units that cover all businesses in the sector (creativity, media expertise and health/well-being);
- Prisma Media: market leader in French magazine publishing, online video and daily digital audience;
- Editis (discontinued operation): second French publishing group and leader in several fields including general literature, youth, practice, illustrated, comics, education and reference;
- Gameloft: a world leader in mobile video games;
- Vivendi Village: it is comprised of the international ticketing company See Tickets, the promoter and festival owner Olympia Production (France), the festival owner U Live (the United Kingdom), the Paris-based concert halls Olympia and the Théâtre de l'Oeuvre, the cinema and entertainment venues CanalOlympia (Africa), and the IP development agency and consultancy The Copyrights Group (IP development agency and consultancy);
- Dailymotion: one of the world's largest platforms for aggregation and distribution of video content (more than 350 million unique users per month);
- Group Vivendi Africa (GVA): a FTTH (Fiber to the home) operator active in Sub-Saharan Africa.