French stocks tumbled on Friday amid growing uncertainties over U.S interest rate cuts, mixed economic indicators from China, and lackluster earnings reports, keeping investors on edge.
The benchmark CAC 40 index fell by 43 points, or 0.5%, settling at 8,145 following a 0.6% drop the previous day.
In corporate news, re-insurer SCOR SE experienced a significant decline of nearly 10% after reporting a 36.8% drop in first-quarter Group net income, which fell to €196 million from €311 million in the same period last year.
Utility company ENGIE also saw a 2% decrease in its stock price. The company disclosed a slight dip in EBIT earnings for the first quarter, attributed to declining sales across most segments.
On the economic front, Eurostat is expected to release the final inflation data for the Euro area for April later today. Preliminary estimates indicated that inflation was stable at 2.4% for April, while core inflation decreased to 2.7% from 2.9% in March.
Earlier today, European Central Bank Vice-President Luis de Guindos expressed optimism, stating that inflation in the Eurozone is projected to approach the target rate of 2% by 2025.
