CAC 40 Roughly Flat In Lackluster Trade

(RTTNews) - French stocks are turning in a mixed performance in lackluster trade Tuesday morning as investors continue to follow the developments on the geopolitical front, and react to quarterly earnings updates.

The market is also digesting the data showing a bigger than estimated increase in the nation's consumer price inflation in the month of January. The INSEE report said consumer price inflation rose to the highest level in five months amid higher costs for energy and services.

The benchmark CAC 40 was down 2.41 points or 0.03% at 8,186.72 a few minutes ago.

Capgemini is plunging more than 9% after reporting a 2% drop in its annual constant currency rates. Edenred is down nearly 7% after the voucher company missed organic growth estimates for Q4. The company's operating revenue growth came in at 4.6% in Q4, well below the expected 6.7% growth.

Pernod Ricard is declining 2%, while Kering, L'Oreal and Carrefour are down 1 to 1.5%.

Essilor, STMicroElectronics, Orange, Teleperformance, Sanofi, Hermes International, Bouygues, Publicis Groupe, Accor and Michelin are down 0.3 to 1%.

Thales is up more than 2%, extending gains from previous session. Stellantis is rising 1.8%, while Legarnd, Schneider Electrics and Societe Generale are up 1.1 to 1.4%.

Automaker Renault are up slightly after signing a framework agreement with Geely Holding Group for a new strategic cooperation in Brazil. Safran, Airbus, BNP Paribas and Vivendi are up with modest gains.

Data from the statistical office INSEE said the consumer price inflation in France climbed to 1.7% in January from 1.3% a month earlier. The latest inflation was revised upwards from the flash data reading of 1.4%.

Meanwhile, harmonized inflation held steady at 1.8%, as estimated. Moreover, inflation remained below the European Central Bank's target of 2%.

On a monthly basis, consumer prices rose at a stable rate of 0.2%, revised from a 0.1% fall estimated initially. Meanwhile, the harmonized index of consumer prices dropped 0.2% after a 0.2% gain in the previous month.