French Stocks Rebound
The CAC 40 rose 0.3% to 7,859 on Wednesday, rebounding from two consecutive sessions of losses as investors closely monitored France’s fiscal and political outlook alongside corporate earnings. Finance Minister Roland Lescure expressed confidence that France would pass next year’s budget, citing constitutional mechanisms available if parliament fails to reach an agreement. However, securing a compromise remains difficult amid deep political divisions and the presidential election just six months away. On the corporate front, EssilorLuxottica soared 11.8% after the Ray-Ban maker beat Q3 revenue expectations amid resilient eyewear demand. STMicroelectronics also gained 1.6%, tracking broader technology-sector strength after solid earnings from US major tech companies eased concerns over stretched AI valuations. In contrast, Michelin slumped 4.7% after reporting lower nine-month sales as declining tyre volumes outweighed improved currency effects in Q3.
The CAC 40 rose 0.3% to 7,859 on Wednesday, rebounding from two consecutive sessions of losses as investors closely monitored France’s fiscal and political outlook alongside corporate earnings. Finance Minister Roland Lescure expressed confidence that France would pass next year’s budget, citing constitutional mechanisms available if parliament fails to reach an agreement. However, securing a compromise remains difficult amid deep political divisions and the presidential election just six months away. On the corporate front, EssilorLuxottica soared 11.8% after the Ray-Ban maker beat Q3 revenue expectations amid resilient eyewear demand.
STMicroelectronics also gained 1.6%, tracking broader technology-sector strength after solid earnings from US major tech companies eased concerns over stretched AI valuations. In contrast, Michelin slumped 4.7% after reporting lower nine-month sales as declining tyre volumes outweighed improved currency effects in Q3.