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CAC 40 Slips On Weak Consumer Confidence Data
(RTTNews) - French stocks are drifting lower on Friday, giving up early gains amid cautious moves by investors due to persisting concerns about U.S. fiscal outlook, and continued uncertainty surrounding Trump administration's tariff moves. Data showing a drop in French consumer confidence also weigh on sentiment.
The benchmark CAC 40, which advanced to 7,888.97 earlier in the session, dropped to 7,828.14, losing 36.30 points or 0.46%.
Pernod Ricard, Essilor, Hermes International and Veolia Environment are down 1.5 to 2%. Carrefour and Thales are lower by 1.25% and 1.2%, respectively.
Orange, AXA, L'Oreal, Saint Gobain, LVMH, Schneider Electric and Societe Generale are modestly lower.
Michelin is rising about 1.2%. Edenred, Bureau Veritas and ArcelorMittal are up 0.7 to 1%. STMicroElectronics, Kering, Stellantis and Unibail Rodamco are up marginally.
Data from the statistical office INSEE showed France's consumer confidence fell to 88 in May 2025 from a downwardly revised 91 in April, missing forecasts of an improvement to 93.
Concerns about unemployment jumped sharply to 61.00 from 52.0, reaching its highest level since May 2015, while inflation expectations also increased, coming in a t -38 from -37).
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