FX.co ★ CAC 40 Edges Lower Amid Corporate Moves

On Thursday, the CAC 40 index fell by 0.3% to approximately 8,305, marking a continuation of minor declines for the second day in a row after reaching all-time highs. Investors were parsing through the latest corporate updates. Thales experienced a 2.3% drop following a downgrade by Deutsche Bank to a “Hold” rating, attributed to uncertainties surrounding revenue and pressures on defense spending. Safran and Airbus saw declines of 1.2% and 0.8%, respectively. Bouygues slipped 0.5% in response to the separation of its chairman and CEO roles within its construction division, while Sanofi slipped 0.6% despite receiving approval in China for two new drugs, Myqorzo and Redemplo. Conversely, the luxury sector was buoyed by an 11% rise in Richemont’s Q3 sales, leading to gains for Hermès at 2.3%, Kering at 1.2%, and LVMH at 0.4%. Additionally, France's annual inflation rate was reaffirmed at 0.8% for December, marking the lowest level in seven months.