The CAC 40 index experienced a slight decline of 0.3%, dipping just below the 8,200 mark. This downturn is attributed to escalating political tensions and a deceleration in France's private sector. Socialist leaders have issued a warning of potentially dismantling the government by Monday unless higher taxes are imposed on billionaires. Meanwhile, the private sector has been contracting at an accelerated rate, the fastest since February, affecting both the services and manufacturing sectors.
In the United States, inflation figures for September were lower than expected, bolstering predictions of an upcoming interest rate cut by the Federal Reserve next week.
On the corporate scene, Kering's shares dropped by 4.1% following a downgrade to “Hold” by HSBC. This was despite Kering's recent earnings beat, as HSBC pointed out a lack of short-term catalysts. Vinci also saw a decline of 2.4% due to Q3 results indicating slowed growth in its airport and motorway segments. Safran fell by 1.8% even though it revised its 2025 targets upwards on the back of higher-than-expected Q3 sales.
Conversely, Accor's stock soared by 6.9% after it reaffirmed its financial outlook for FY 2025, and Sanofi's shares increased by 2.8% after surpassing quarterly projections and maintaining its guidance.
