CAC 40 Rises as Sodexo Performs Well Before U.S. Jobs Data

Cac Futures Updates

French stocks experienced an uptick on Thursday, buoyed by diminishing worries regarding inflation and interest rates, alongside reports indicating favourable advancements in US-Iran negotiations that enhanced market sentiment. Investors anticipated the forthcoming U.S. monthly jobs data scheduled for release later in the day.

The benchmark CAC 40 increased by 60.69 points, reflecting a rise of 0.73%, reaching 8,397.98 shortly after noon.

  • Carrefour experienced an increase of 4.2%. ArcelorMittal experienced an increase of 3.6%, whereas Thales, Pernod Ricard, and Euronext saw gains ranging from 2.2% to 2.6%.
  • Michelin and LVMH both experienced an increase of nearly 2%.
  • Danone, Sanofi, Air Liquide, and Unibail Rodamco experienced an increase in their stock values, ranging from 1.3% to 1.6%.
  • Credit Agricole, Airbus, AXA, Orange, Safran, Veolia Environment, Saint Gobain, L’Oreal, Engie, and EssilorLuxottica also experienced upward movement.
  • Shares of food services group Sodexo surged 8% following a stronger-than-anticipated Q3 performance and an upward revision of its full-year organic revenue growth forecast.
  • Renault experienced a decline of approximately 2.3%. Dassault Systemes and Legrand experienced declines of 1.3% and 1.2%, respectively.
  • Schneider Electric, Capgemini, and STMicroelectronics exhibited signs of underperformance.

Data from the government indicated that France’s state budget deficit decreased to EUR 93.3 billion in the January-May period, compared to EUR 94.0 billion during the same timeframe the previous year.