CAC 40 Slides As Tech Stocks Drag
(RTTNews) - French stocks declined on Thursday, with tech names coming under selling pressure after Facebook parent Meta Platforms forecast a weak holiday quarter and significantly more costs next year.
Investors also awaited the ECB rate decision later in the day for direction. The benchmark CAC 40 was down 24 points, or 0.4 percent, at 6,252 after rising 0.4 percent the previous day.
Franco-Italian chipmaker STMicroelectronics slumped 6.4 percent after saying it expects sales growth to slow in the last part of the year.
Casino Group shares jumped almost 19 percent. The retailer said its third-quarter total consolidated net sales rose 5.4 percent on a same-store basis from a year earlier.
TotalEnergies climbed 1.2 percent. The energy and petroleum company said its third-quarter earnings more than doubled to about $9.9 billion, boosted by higher LNG prices and sales.
Schneider Electric tumbled 3.4 percent despite the Group confirming its fiscal 2022 target for EBITA growth. IT consulting firm Capgemini declined 2.7 percent despite posting a rise in its quarterly revenues.
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