CAC 40 Closes Flat
The CAC 40 closed flat at 7,969, holding near one-month highs after rising earlier in the session, as economic headwinds mounted. Preliminary data showed France’s GDP contracted 0.1% quarter over quarter, missing expectations for 0.1% growth. Annual inflation accelerated to 3.4%, above forecasts of 3.2% and its highest since December 2023. The data added to economic and political pressures, including rising borrowing costs, violent protests and persistent fiscal uncertainty. Gains in L’Oréal (+2.9%) and Hermès (+2.2%) helped offset losses. Sanofi rose 4.7% after beating third-quarter earnings and revenue estimates, while Crédit Agricole shed 2% despite also topping forecasts. Technology stocks weighed on the index, with STMicroelectronics (-5.3%) and Schneider Electric (-4.1%) tracking weakness on Wall Street. The CAC 40 gained 2% for the week and edged up 0.1% in October.
The CAC 40 closed flat at 7,969, holding near one-month highs after rising earlier in the session, as economic headwinds mounted. Preliminary data showed France’s GDP contracted 0.1% quarter over quarter, missing expectations for 0.1% growth. Annual inflation accelerated to 3.4%, above forecasts of 3.2% and its highest since December 2023. The data added to economic and political pressures, including rising borrowing costs, violent protests and persistent fiscal uncertainty.
Gains in L’Oréal (+2.9%) and Hermès (+2.2%) helped offset losses. Sanofi rose 4.7% after beating third-quarter earnings and revenue estimates, while Crédit Agricole shed 2% despite also topping forecasts. Technology stocks weighed on the index, with STMicroelectronics (-5.3%) and Schneider Electric (-4.1%) tracking weakness on Wall Street. The CAC 40 gained 2% for the week and edged up 0.1% in October.