CAC 40 Down 0.66%; Bouygues Rises Sharply On Earnings
(RTTNews) - French stocks are exhibiting weakness on Wednesday, snapping a four-session winning streak, as investors focus on earnings and other corporate news, and await more economic data for directional clues. Some profit taking is also contributing to market's weakness.
The benchmark CAC 40 was down 52.05 points or 0.66% at 7,821.82 a few minutes ago.
Kering is down by about 2.3%, weighed down by reports about a sharp drop in demand for high-end fashion and luxury goods in the US.
L'Oreal, LVMH, Stellantis, Legrand, Airbus, Capgemini, ArcelorMittal, Edenred, STMicroElectronics, Essilor and Dassault Systemes are down 1 to 2%.
Alstom SA is down nearly 16% after guidance for fiscal year 2025-26 came in below expectations.
Bouygues is rising 3.5%. The Group's current operating profit from activities or COPA for the quarter was 69 million euros up from 26 million euros last year, driven mainly by Equans, where COPA increased 44 million euros year-on-year.
Sales for the first quarter grew 2.2% to 12.585 billion euros from 12.314 billion euros in the prior year, driven by Colas, Bouygues Construction and Bouygues Telecom, reflecting the first full-quarter contribution from La Poste Telecom. Like-for-like and at constant exchange rates, sales increased 0.9% year-on-year.
Thales, Unibail Rodamco, Orange, Vinci and Credit Agricole are up with moderate gains.
FTSE 100 Flat In Lackluster Trade; Bank Stocks Drifting Lower
CAC 40 Advances After Recent Losses
DAX Remains Weak Despite Paring Some Early Losses
Mixed Sentiment In Asian Markets
Euro Falls Against Majors
U.S. Dollar Rises Against Majors
German GfK Consumer Confidence To Fall Further
