CAC 40 Modestly Higher; Sodexo Tanks On Weak Earnings
(RTTNews) - The French stock market was modestly higher a little past noon on Friday with investors hoping for some positive outcome from the upcoming U.S.-Iran diplomatic talks scheduled to take place this weekend.
Meanwhile, Israel continues to launch strikes in Lebanon. Also, supply disruptions persist along the Strait of Hormuz, resulting in oil prices extending their upmove.
France's benchmark index CAC 40 was up 54.99 points or 0.67% at 8,300.79 nearly half an hour past noon.
STMicroelectronics surged more than 3%. Kering and Stellantis moved up by 2.1% and 2%, respectively.
Schneider Electric, Saint Gobain, Publicis Groupe, Capgemini, Hermes International, Legrand, EssilorLuxottica, Pernod Ricard, LVMH, Renault, BNP Paribas, Danone and Michelin gained 1%-1.8%.
Thales drifted lower by about 2.9%. ArcelorMittal shed 1.4%, while TotalEnergies, Engie, Orange and Safran lost 0.3%-0.7%.
Sodexo shares tumbled more than 11% after the food and facilities management services provider reported sharply lower profit in its first half of fiscal 2026, amid weak revenues. Further, the firm trimmed outlook for fiscal 2026.
The company's group net profit declined 56.7% to 188 million euros from last year's 434 million euros. Basic earnings per share fell to 1.29 euros from 2.98 euros a year ago.
