CAC 40 Modestly Higher; Luxury Stocks Advance

RTTNews | 78 days ago
CAC 40 Modestly Higher; Luxury Stocks Advance

(RTTNews) - French stocks turned in a mixed performance on Wednesday with investors focusing on Middle East peace negotiations and largely making cautious moves. Concerns about possible rate hike moves by the Federal Reserve weighed on sentiment.

The benchmark CAC 40 was up 22.80 points or 0.27% at 8,363.51 about half an hour past noon.

Luxury stocks L'Oreal and LVMH gained 2% and 1.4%, respectively. Kerring moved up 0.8%, while Hermes International advanced 0.3%.

Pernod Ricard moved up 1.8%, Air Liquide gained 1.7% and Danone climbed 1.6%. STMicroelectronics and Safran advanced 1.3% and 1.1%, respectively.

Eurofins Scientific, BNP Paribas, Bureau Veritas, Michelin and Schneider Electric posted modest gains.

Orange edged up marginally. The company is reportedly aiming to generate over EUR600M in value From AI by 2028.

EssilorLuxottica fell 3.7%. ArcelorMittal drifted lower by 2.7% and Thales dropped about 2.3%. Euronext and Stellantis fell 2.2% and 2%, respectively.

Publicis Groupe, Eiffage, Veolia Environment, Bouygues and Engie lost 1%-1.4%.

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