French Stocks Rebound on Strong Earnings

2026-04-23 08:00 By Czyrill Jean Coloma 1 min. read

The CAC 40 rose 0.5% to 8,196 on Thursday, rebounding from two straight sessions of losses, as investors focused on corporate earnings while weighing escalating shipping risks in the Strait of Hormuz.

L'Oréal soared 8.5%, hitting an over one-month high and heading for its best daily performance since 2008 after reporting its fastest quarterly growth in two years.

Safran gained 1.9% after stronger-than-expected Q1 revenue and signaling it expects to reach the upper end of its FY guidance.

Sanofi advanced 2.1%, also at a one-month high, supported by double-digit Q1 2026 sales growth.

Meanwhile, geopolitical tensions remained a key overhang, as Iranian forces reportedly fired on commercial vessels on Wednesday, while the US continues enforcing a blockade on ships linked to Iranian ports.

Domestically, flash estimates showed the Composite PMI fell to 47.6 in April from 48.8 in March, dragged down by a further decline in services (46.5 vs 48.8), despite manufacturing growth (52.8 vs 50).



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French Stocks Rebound on Strong Earnings
The CAC 40 rose 0.5% to 8,196 on Thursday, rebounding from two straight sessions of losses, as investors focused on corporate earnings while weighing escalating shipping risks in the Strait of Hormuz. L'Oréal soared 8.5%, hitting an over one-month high and heading for its best daily performance since 2008 after reporting its fastest quarterly growth in two years. Safran gained 1.9% after stronger-than-expected Q1 revenue and signaling it expects to reach the upper end of its FY guidance. Sanofi advanced 2.1%, also at a one-month high, supported by double-digit Q1 2026 sales growth. Meanwhile, geopolitical tensions remained a key overhang, as Iranian forces reportedly fired on commercial vessels on Wednesday, while the US continues enforcing a blockade on ships linked to Iranian ports. Domestically, flash estimates showed the Composite PMI fell to 47.6 in April from 48.8 in March, dragged down by a further decline in services (46.5 vs 48.8), despite manufacturing growth (52.8 vs 50).
2026-04-23
The CAC 40 Index Opens 0.63% Higher
The CAC 40 Index is gaining 52 points or 0.63 percent on Thursday. Leading the gains are L'Oréal (8.55%), STMicroelectronics (6.95%) and Dassault Systemes (4.04%). Top losers are Essilor (-4.02%), Carrefour (-1.99%) and Capgemini (-1.92%).
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CAC 40 Dips Amid Middle East Tensions
The CAC 40 fell 1% to close at 8,156 on Wednesday amid uncertainty over the US extension of the ceasefire with Iran, as optimism remained subdued despite the pause in hostilities. The Strait of Hormuz stayed largely closed with no signs of renewed US-Iran negotiations, while oil prices rose on reports of gunfire attacks on container ships, fueling fears of energy-driven stagflation and rate hikes. Luxury stocks declined on risk aversion, with LVMH down 2.4% and Hermès losing 1.8%, while L'Oréal edged lower ahead of its earnings release. The industrial sector also posted losses, as Airbus fell 2.5% and Safran shed 3.5%, though Danone bucked the trend, rising 2.5% after reporting solid first-quarter 2026 results. Elsewhere, Essilor also releases it's results and closed down 2.5%, while TotalEnergies gained 1.3% on rising oil prices.
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