French stocks rebounded following a sluggish opening on Tuesday, as investors responded to various corporate earnings reports while anticipating forthcoming monetary policy decisions from key central banks, notably the Federal Reserve and the European Central Bank, later this week. Oil prices experienced a modest increase following a lacklustre beginning. Brent crude front-month futures increased to $111.91 from a low of $109.53, subsequently declining to $111.16, reflecting an uptick of nearly 0.4% from the previous close.
The benchmark CAC 40, which dropped to 7,810.92, was up 29.34 points or 0.37% at 7,876.66 recently.
- STMicroelectronics experienced an increase of over 3%.
- Schneider Electric experienced a 2.3% increase, ArcelorMittal saw a 2% rise, and Legrand rose by 1.9%.
- EssilorLuxottica and Vinci experienced increases of 1.5% and 1.3%, respectively.
- BNP Paribas, Eiffage, Saint-Gobain, Publicis Groupe, Sanofi, Airbus, Bouygues, Credit Agricole, Thales, Capgemini, Safran, Accor, and AXA experienced gains ranging from 0.5% to 1.2%.
- Pernod Ricard experienced a decline of approximately 1.7%.
- Renault and TotalEnergies experienced a decline of slightly more than 1% from their prior closing levels.
- Engie experienced a decline of nearly 1%.
- Orange experienced a decline of over 1% even as it reported an increase in third-quarter revenue and elevated its core earnings growth target for 2026.
- Carrefour, Kering, L’Oreal, Hermes International, and Stellantis experienced a slight decline.
Survey results published by the statistical office INSEE indicated that French consumer confidence fell to its lowest level in over 13 years in October, influenced by bond selloffs and escalating protests. The consumer confidence index declined to 80 in October, down from 85 in September. A comparable lower score was last recorded in June 2013. The reading was observed at 85.
Furthermore, the survey indicated a rise in concerns regarding unemployment among households. Furthermore, apprehensions regarding pricing have escalated among consumers. The proportion of households who believe that prices have risen over the past twelve months saw a significant increase, with the index rising by eight points to reach 42. Meanwhile, the indicator for future inflation decreased to -7 from -9.
