CAC 40 Slips On Mixed Earnings
(RTTNews) - French stocks traded lower on Friday, with heighted geopolitical tensions in the Middle East, Fed rate uncertainty and mixed earnings results weighing on investor sentiment. The benchmark CAC 40 was down 19 points, or 0.3 percent, at 7,646 after climbing 0.7 percent on Thursday.
Orange dropped half a percent. The telecoms firm reported that its loss before taxation for fiscal year 2023 was 2.2 million euros compared to profit of 81.6 million euros in the prior year.
Hermes International soared 5 percent. The luxury design house announced plans to raise prices after posting solid Q4 results.
L'Oreal slumped 6 percent after reporting lower-than-expected fourth-quarter sales. Video game Ubisoft jumped 15 percent after beating its sales targets in Q3.
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