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CAC 40 Rises To 9-month High As Investors React To Earnings
(RTTNews) - Despite lingering concerns about fresh U.S. tariffs and global growth outlook, French stocks are notably higher Thursday morning with investors reacting to quarterly earnings updates and betting on more monetary easing by the European Central Bank.
Optimism about an end to the ongoing war in Ukraine following reports that U.S. President Donald Trump had telephonic conversations with presidents of Russia and Ukraine, is also aiding sentiment.
The benchmark CAC 40 was up 88.76 points or 1.1% at 8,130.95 a little while ago.
Legrand is up nearly 6% after the company reported strong growth in net profit for the year 2024. The company has set a 6% to 10% sales target for the current year.
Michelin is gaining about 5.3% despite a more than 4% drop in full-year net earnings. Essilor is up nearly 5% on strong earnings in 2024.
Orange is up 3%. The company reported fiscal 2024 net income 2.35 billion euros, down 3.7% on a historical basis from last year.
Stellantis is rising nearly 4%. Renault is up 3.7%, while Veolia Environment, Accor, Hermes International, LVMH, Vinci, Edenred, Capgemini, Bouygues, Kering, STMicroElectronics, Schneider Electric, Carrefour, Thales, Saint-Gobain and Pernod Ricard are also notably higher.
Unibail Rodamco is down 1.7% despite reporting fiscal 2024 net profit of 146.2 million euros compared to a loss of 1.6 billion euros, last year. Profit per share was 1.04 euros compared to a loss of 11.72 euros.
Danone, BNP Paribas and TotalEnergies are lower by 0.8 to 1.1%.
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