French Stocks Set for Weekly Decline

2026-10-23 08:00 By Czyrill Jean Coloma 1 min. read

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.



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French Stocks Set for Weekly Decline
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.
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