CAC 40 Modestly Lower As Investors Focus On Results, Middle East News

(RTTNews) - After opening on a positive note, the French stock market pared gains and slipped into negative territory on Wednesday as the mood turned cautious amid uncertainty about fresh U.S.-Iran peace talks.

U.S. President Donald Trump said that he would extend the ceasefire with Iran indefinitely until Tehran submits a comprehensive proposal and negotiations are concluded.

The benchmark CAC 40, which dropped to 8,190.49, was down 29.62 points or 0.36% at 8,206.10 nearly half an hour past noon.

Bureau Veritas tumbled more than 12%. The company's organic revenue grew 4.5% in Q1 2026, led by Marine & Offshore and Buildings & Infrastructure, but total revenue declined 0.8% year-on-year due to currency headwinds. Updated 2026 guidance now targets mid-single-digit organic growth, reflecting contract terminations in Government Services.

Eurofins Scientific shed about 10.2%. The company reported first-quarter revenue of 1.789 billion euros, up 1.3% compared to the first three months of 2025. Organic growth stood at 2.6%, including a 0.1% working day adjustment. Despite the top-line increase, the performance fell short of expectations, as the consensus had penciled in organic growth of 4.8%.

Safran lost 2.8%. EssilorLuxottica drifted down 1.7% and LVMH slid 1.6%. Accor, Societe Generale, Airbus, Hermes International and BNP Paribas lost 1%-1.25%.

Sanofi fell about 1% after the U.S. FDA extended its review of Sarclisa subcutaneous (SC) formulation by up to three months.

Danone gained 3%. The food and drink giant reported first quarter sales of 6.7 billion euros, up 2.7% like-for-like, led by an increase of 1.5% in volume/mix and 1.2% in price. On a reported basis, sales decreased by 2.0%, for the quarter.

The company said its 2026 guidance is confirmed, in line with mid-term ambition. LFL sales growth is expected between 3% and 5%, with recurring operating income growing faster than sales.

Legrand advanced 1.8%, while STMicroelectronics and TotalEnergies moved up 1.6% and 1.5%, respectively. Engie, Carrefour, Unibail Rodamco and Orange posted moderate gains.

French drugmaker Ipsen advanced 1.5% after receiving EU conditional marketing authorization for Ojemda as the first targeted therapy for recurrent or refractory pediatric low-grade glioma.