The CAC 40 Index Opens 0.67% Lower

The CAC 40 fell 0.7% to 7,758 on Friday, extending losses from the previous session and heading for a weekly decline as investors weighed a batch of corporate earnings alongside PMI data. Luxury stocks were among the laggards, with Kering plunging 11.7% to over one-year low after Q3 2026 revenue came in flat year-on-year and down about 1% on a like-for-like basis. Hermès fell 1.1% to four-year low as its quarterly results disappointed investors amid challenging conditions in China. Safran also dropped 6.7% despite surpassing Q3 revenue growth forecasts. In contrast, L’Oréal climbed 3.5% to a more than two-year high after Q3 sales beat expectations. On the economic front, France’s flash composite PMI fell to 48.4 in October from 51.1 in September, well below forecasts of 50.5. Manufacturing PMI slipped to 49.3 from 50.6, returning to contraction and hitting an 11-month low. Services PMI also fell back into contraction, dropping to 48.4 from 51.2 and missing expectations of 50.7.

The CAC 40 Index is losing 52 points. Losses were led by Kering (-11.52%), Safran (-6.16%) and Renault (-2.81%). Offsetting the fall, top gainers were L'Oréal (3.45%), TotalEnergies SE (1.59%) and Legrand (0.73%).

The CAC 40 fell 1.4% to close at 7,811 on Thursday amid mixed corporate earnings, rising borrowing costs and political uncertainty. Hermès dropped 4.9% after reporting revenue below estimates. Kering lost 1.3% following a decline in sales. In contrast, L’Oréal gained 1.8% on stronger-than-expected sales growth. The 10-year yield climbed amid concerns over the government’s ability to restore public finances amid ongoing political turmoil and planned protests. Moody’s review of France’s Aa3 sovereign credit rating is due Friday, with its negative outlook raising the risk of a downgrade that could further increase borrowing costs. Financial stocks tumbled, with BNP Paribas falling 4.9% and AXA losing 2.7%. Industrials declined, Safran fell 3.8% and Legrand shed 5.8%. Tech stocks came under pressure as disappointing results from major US technology companies revived concerns over the profitability of heavy AI investments. STMicroelectronics fell 4.9%, while Schneider Electric lost 5.4%.