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CAC 40 Slips Into Red On Weak Earnings
(RTTNews) - French stocks declined on Friday after the U.S. military attacked facilities in Syria linked to Iran, raising concerns that the Israel-Hamas war may spread.
Disappointing earnings from the likes of Remy Cointreau and Sanofi also weighed on sentiment.
The benchmark CAC 40 was down 28 points, or 0.4 percent, at 6,861 after declining 0.4 percent the previous day.
Construction materials group Saint-Gobain edged up slightly after saying it aims to achieve a new record operating margin this year.
Spirits maker Remy Cointreau plunged 11 percent after slashing its sales outlook and lowering profit guidance.
Drug maker Sanofi plummeted 15 percent after it forecast lower profit next year and announced plans to split its consumer-healthcare and pharmaceutical business.
In economic releases, France's consumer sentiment improved marginally in October, survey results from the statistical office INSEE showed earlier today.
The consumer sentiment index moved up to 84 in October from 83 in September. The reading was forecast to remain unchanged to 83.
The survey was conducted between September 26 and October 18.
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