CAC Advances 0.7% As Investors React To Earnings

(RTTNews) - French stocks are up in positive territory Thursday morning, rebounding from previous session's losses, as investors track quarterly earnings updates and continue to follow geopolitical news. Concerns about potential new tariffs from the U.S. government and their likely impact on trade and earnings weigh a bit on sentiment.

The benchmark CAC 40 was up 60.27 points or 0.74% at 8,170.81 a few minutes ago.

Schneider Electric shares are up 6% after the company reported that its fiscal 2024 net income was 4.3 billion euros, an increase of 7% from last year. Adjusted earnings per share was 8.32 euros compared to 7.26 euros. Revenues were up 8% organic to 38 billion euros. Fourth quarter revenues were up 12% organic to 11 billion euros.

STMicroElectronics is gaining 3.3% and Kering is up nearly 3%. Eurofins Scientific is rising 2.3%, while Teleperformance and Legrand are up 1.85% and 1.7%, respectively.

Vivendi, BNP Paribas, Unibail Rodamco, Stellantis, Societe Generale and Saint Gobain are also notably higher.

Carrefour is plunging 7% after the retailer sounded a note of caution on consumer demand and said it expects only "slight" growth in free cash flow and earnings before interest and tax in 2025.

Shares of aerospace company Airbus SE are down 1.7% despite higher quarterly earnings. For the fourth-quarter, net income climbed 66% to 2.42 million euros from last year's 1.46 billion euros. Earnings per share were 3.07 euros, higher thaqn 1.85 euros a year ago.

The company expects adjusted EBIT of around 7.0 billion euros for fiscal 2025, higher than 5.35 billion euros recorded in fiscal 2024. The company also projects around 820 commercial aircraft deliveries.

Renault Group reported fiscal 2024 net income of 752 million euros, compared with net income of 2.2 billion euros, last year. Excluding the capital loss on Nissan's shares disposal, Nissan's contribution and the partial impairment of investment in Nissan, net income was at 2.8 billion euros compared to 2.3 billion euros, last year. Renault shares are down marginally.

Edenred is lower by about 1.6%. Accor is down 0.8% on lower earnings. The company reported a net profit of 610 million euros for fiscal 2024, down from previous year's net profit of 633 million euros.