French stocks are making significant gains this Thursday morning as investors set aside tariff worries temporarily and focus on impressive corporate earnings reports and a notable improvement in the country's construction sector.
The CAC 40 index has risen to 7,959.62, marking an increase of 67.94 points or 0.86%.
Shares of Societe Generale have surged nearly 10% following robust quarterly earnings. The bank reported that net income for the fourth quarter rose to 1.04 billion euros, up from 429 million euros in the same period last year. Net banking income also saw an increase, reaching 6.62 billion euros from 5.96 billion euros.
For the full year, net income for 2024 rose to 4.20 billion euros, compared to 2.49 billion euros the previous year. Earnings per share increased to 4.38 euros from 2.17 euros.
ArcelorMittal is up 5.7% after the company announced a reduced net loss in the fourth quarter and an uptick in sales. The net loss attributable to equity holders was $390 million, a significant improvement from the previous year's loss of $2.97 billion. Basic loss per share improved to $0.51 from the previous year's loss of $3.57.
Looking forward, ArcelorMittal anticipates higher apparent demand in fiscal 2025 compared to fiscal 2024. With currently low inventory levels, particularly in Europe, the company is optimistic that restocking activities will enhance genuine demand improvement.
Additionally, Teleperformance has increased by 3%, and Pernod Ricard has gained 2.5%. Positive movements are also noted in shares of Unibail Rodamco, Schneider Electric, Saint-Gobain, Renault, Michelin, Vivendi, BNP Paribas, and Veolia, all climbing between 1% to 1.8%.
Data from S&P Global indicates that French construction activity in January 2025 showed its slowest decline since November 2023. The HCOB Construction PMI registered a score of 44.5 in January, up from December's 42.6.
