CAC 40 Pares Some Early Losses; L'Oreal Down Sharply As Sales Miss Expectations
(RTTNews) - French stocks are showing weakness on Wednesday, turning down south from the record highs climbed in the previous session. Slightly disappointing earnings announcements from luxury majors weigh on the market.
The benchmark CAC 40, which drifted down to 8,193.35 earlier in the session, was down 17.96 points or 0.22% at 8,240.90 a few minutes ago.
L'Oreal is down 6.5% as results fell short of expectations. L'Oréal announced a 4.2% increase in third-quarter sales to €10.33 billion but missed analyst expectations.
Hermes International is declining by 3.7%. The company eported third-quarter sales of €3.9 billion, up 10% at constant exchange rates compared with the previous quarter.
Stellantis, STMicroElectronics and Kering are down 2.1 to 2.6%. Renault, Capgemini and Michelin are lower by 1.6 to 2%.
EssilorLuxottica, Orange, Saint Gobain, Air Liquide and Dassault Systemes are also down in negative territory, though with less pronounced losses.
Schneider Electric is rising 3.3%. Edenred is gaining 2.5%, extending gains from the previous session. Thales is up 2.3% and Legrand is advancing nearly 2%.
ArcelorMittal, Airbus, Vinci, Unibail Rodamco, Safran, Engie, Bouygues, Accor, Danone and Credit Agricole are up with moderate gains.
No Help Yet For Indonesia Stock Market
Japanese Market Modestly Higher
Hang Seng Likely To Remain Rangebound
Soft Start Anticipated For China Stock Market
Australian Market Notably Higher
Taiwan Stock Market Poised To Open Under Water
Losing Streak May Continue For Singapore Stock Market
