CAC 40 Gains As Earnings Bring Cheer

(RTTNews) - French stocks rose notably on Thursday as investors cheered strong earnings updates and flash survey data from S&P Global showing that France's private sector activity contracted at a slower pace in February.

The composite output index rose to a nine-month high of 47.7 in February from 44.6 in January.

The benchmark CAC 40 was up 65 points, or 0.8 percent, at 7,877 after gaining 0.2 percent the previous day.

Energy company ENGIE jumped 2.5 percent after raising its 2024 financial guidance. Hotel group Accor soared 4.1 percent after annual core profit topped forecasts.

AXA climbed 3.2 percent. The insurer launched a share buyback after reporting higher FY23 underlying profit.

Yoghurt maker Danone added nearly 2 percent as it delivered 2023 sales growth at the top end of its forecast.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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