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CAC 40 Modestly Higher In Cautious Trade
(RTTNews) - French stocks are modestly higher about an hour past noon on Thursday, recovering from a mild setback earlier in the session. The mood is cautious with investors closely following the developments on the geopolitical front.
The tensions in the Middle East have eased a bit amid signs of a ceasefire between Israel and Iran.
Investors are also reacting to news about the NATO members agreeing to raise defense spending target from 2% of GDP to 5% over the next ten years.
The benchmark CAC 40 was up 18.18 points or 0.25% at 7,576.34 a few minutes ago.
Edenred is rising more than 6%, reacting to news about the French government updating its meal voucher reform, offering relief to concerns about potential regulatory headwinds.
The government ruled out imposing merchant fee caps, for now, while signaling a shift toward digitalization and greater market competition.
STMicroElectronics, Veolia Environment, Thales, Saint Gobain, Eurofins Scientific, Unibail Rodmco, ArcelorMittal and Airbus are gaining 1.3 to 2%.
Teleperformance, Legrand, Bouygues, Credit Agricole, Sanofi, Pernod Ricard and Capgemeni are up with modest gains.
Carrefour is declining nearly 8% after J.P. Morgan placed the stock on its Negative Catalyst Watch list, citing a deteriorating earnings outlook and weak cash flow trends.
The brokerage reaffirmed its "underweight" rating and cut its December 2026 price target to €9 from €10, implying a 30% downside from the June 25 closing price of €12.75.
Michelin is down 2.5% and Essilor is down nearly 2%.
Accor, L'Oreal, Dassault Systemes, Stellantis and Renault are lower by 0.8 to 1.4%.
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