CAC 40 Dips to Two-Week Low on Earnings

On Thursday, the CAC 40 index declined to 8,150 points, marking its lowest position since October 15. This decrease came as investors faced a multitude of corporate earnings reports, central bank updates, and economic data. Stellantis experienced a significant drop of over 10%, as its third-quarter revenues, although generally meeting forecasts, failed to impress following a 21% surge in stock value over the previous month. Schneider Electric saw a 5% decline, even though it restated its annual guidance, with expectations for organic growth and margin improvements skewing towards the lower end of projections. Societe Generale fell by 3.5% after the CEO chose not to pledge further excess capital distribution to shareholders. TotalEnergies also dipped 3.2% due to weaker Q3 results. Conversely, Airbus rose by 3%, buoyed by a robust quarter and the retention of its 2025 outlook. In terms of monetary policy, the European Central Bank (ECB) held interest rates unchanged and reiterated its inflation forecast, while the Federal Reserve warned against guaranteeing a rate cut in December. Additionally, France's GDP increased by 0.5% in the third quarter, exceeding the market’s anticipated growth of 0.1%.

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