French Stocks Rebound as Earnings Roll In
The CAC 40 rose 1.1% to close at 7,922 on Wednesday, rebounding after two consecutive sessions of losses as corporate earnings roll in. EssilorLuxottica soared 15.5% after beating revenue expectations on resilient eyewear demand, recovering from Tuesday’s decline amid weaker sales of digital eyewear. Hermès (+1.3%) and L’Oréal (+0.4%) advanced ahead of their earnings reports due Thursday. In contrast, Michelin slumped 7.2% after reporting lower nine-month sales amid declining tire volumes. Easing oil prices offered some relief to financial stocks, which have faced pressure from energy-driven inflation concerns and expectations of higher-for-longer interest rates. AXA and Société Générale each gained 0.8%. Technology stocks also advanced, with STMicroelectronics up 2.5% and Schneider Electric rising 2%, tracking broader sector strength after solid earnings from major US tech companies. Meanwhile, France’s uncertain fiscal and political outlook remained a concern.
The CAC 40 rose 1.1% to close at 7,922 on Wednesday, rebounding after two consecutive sessions of losses as corporate earnings roll in. EssilorLuxottica soared 15.5% after beating revenue expectations on resilient eyewear demand, recovering from Tuesday’s decline amid weaker sales of digital eyewear. Hermès (+1.3%) and L’Oréal (+0.4%) advanced ahead of their earnings reports due Thursday. In contrast, Michelin slumped 7.2% after reporting lower nine-month sales amid declining tire volumes.
Easing oil prices offered some relief to financial stocks, which have faced pressure from energy-driven inflation concerns and expectations of higher-for-longer interest rates. AXA and Société Générale each gained 0.8%. Technology stocks also advanced, with STMicroelectronics up 2.5% and Schneider Electric rising 2%, tracking broader sector strength after solid earnings from major US tech companies. Meanwhile, France’s uncertain fiscal and political outlook remained a concern.