CAC 40 Declines On China Concerns

2024-10-21 3971
(fxcue news) - French stocks traded lower on Wednesday due to concerns about slowing Chinese growth and the widening U.S. fiscal deficit. The benchmark CAC 40 dropped 34 points, or half a percent, to 7,501 after ending little changed the previous day. L'Oreal tumbled 4 percent after the cosmetics giant reported a rise in third quarter sales that missed expectations due to low consumer confidence in China. Thales gave up 2 percent despite reporting higher sales and orders in the first nine months of the year. Air Liquide dropped 1 percent. The industrial gases supplier delivered third-quarter revenue in line with market expectations. Ipsen fell 1.3 percent. The global specialty-care biopharmaceutical company reported strong sales momentum in the first nine months of 2024.
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