CAC 40 Declines Amid Fitch Rating Review, Political Uncertainty
(RTTNews) - The French stock market's benchmark index CAC 40 fell to a one-month low on Thursday as investors made cautious moves ahead of Fitch's review of the nation's sovereign credit rating and on French political uncertainty.
Concerns about geopolitical tensions and Fed interest rate uncertainty following firmer-than-expected U.S. inflation data weighed as well.
The CAC 40 was down 98.11 points or 1.16% at 8,364.28 nearly an hour past noon.
Pernod Ricard dropped nearly 7%. The spirits and wine group reported a 3.9% decline in annual sales for fiscal 2026, citing weak demand in China and the United States.
Eiffage lost more than 6%. Societe Generale, BNP Paribas and Credit Agricole shed 4.4%, 4.2% and 3.7%, respectively.
Orange, Bouygues, Veolia Environment, Vinci and Engie shed 3%-3.7%. Saint-Gobain, Michein and AXA lost 2%-2.5%. Carrefour, Unibail Rodamco, Publicis Groupe, LVMH, EssilorLuxottica, TotalEnergies, Accor and Bureau Veritas also drifted lower.
STMicroelectronics jumped more than 4% thanks to Nvidia's upbeat earnings and guidance. Renault moved up 2.5%.
Euronext, Stellantis, Dassault Systemes, Hermes International, Capgemini and Legrand gained 0.7%-1.5%.
Data from the statistical office INSEE showed France's producer prices increased for the first time in four months in July, rising 1.1% on a monthly basis, reversing a 0.4% drop in June. The rebound reflected broad-based price pressures across multiple sectors.
On a yearly basis, producer price inflation in the French market rose to 3.4% in July from 2.8% in June.
U.S. Consumer Prices Increase In Line With Estimates In August
IEA Cuts Oil Demand Forecast; Canadian Markets Eye Recovery
Canadian Dollar Falls As Oil Prices Edge Lower
Kroger Q2 Profit Rises, Backs FY26 Adj. Earnings View, Cuts Sales Growth Forecast; Stock Drops
UK Stocks Rise On GDP Growth, Oil Price Decline
French Stocks Rise On Oil Price Drop, Middle East Concerns Persist
Indian Shares End Off Day's Lows As Oil Prices Ease
