CAC 40 Drops on Tech and Luxury

2025-11-06 16:48 By Felipe Alarcon 1 min. read

The CAC 40 fell 1.4% to close at 7,965 on Thursday, reversing the prior session’s modest gains as a broad selloff in tech and luxury names weighed on the market.

Legrand tumbled 12.2% after nine-month sales of €6.97 billion came in slightly below expectations, stoking worries about stretched valuations.

Teleperformance slid 4.4% after cutting annual targets and reporting third quarter revenue that fell 0.5% to €2.51 billion, while Schneider Electric lost 2.9% following a partnership announcement with NVIDIA to develop AI factory infrastructure.

Other tech names weakened, with Dassault Systèmes down 3% and STMicroelectronics down 0.7%.

Luxury houses fared poorly as well, with LVMH, Hermès, L’Oréal, Essilor and Kering losing between 1.1% and 3.8%.

By contrast, ArcelorMittal jumped 2.4% after Q3 EBITDA of $1.51 billion matched forecasts and management flagged optimism for 2026, and Veolia rose 1.3% after nine-month EBITDA beat estimates at €5.08 billion.



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