CAC 40 Declines On Rate Worries
(RTTNews) - French stocks traded lower on Thursday amid renewed concerns over rising interest rates and the ongoing Israel-Hamas conflict.
Investors also awaited the ECB rate decision later in the day for directional cues.
The benchmark CAC 40 was down 65 points, or 0.9 percent, at 6,850 after rising about 0.3 percent in the previous session.
Automaker Renault fell nearly 3 percent following disappointing earnings updates from peers Mercedes Benz and Volkswagen.
Lender BNP Paribas slumped 4 percent after posting a fall in third-quarter net profit on higher expenses.
Food group Danone rose 1.3 percent after lifting its 2023 revenue growth forecast.
Sodexo jumped 6 percent. The catering and food services group said it plans to list its voucher and benefits division Pluxee early in 2024.
Carrefour, Europe's largest food retailer, surged 4 percent after reporting higher third-quarter sales and backing its full-year targets.
Troubled supermarket group Casino was slightly lower after slashing its profit forecast.
TotalEnergies dropped half a percent after reporting a decline in Q3 adjusted profit.
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