ET 14:00

CAC 40 Rises 0.58% as EssilorLuxottica Surges 15% on Earnings; Carrefour Plunges 14.5%

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Earnings

France's CAC 40 rose 45.72 points, or 0.58%, to 7,884.21 on Wednesday, lifted by quarterly earnings even as higher crude oil prices capped gains. EssilorLuxottica soared nearly 15% after reporting third-quarter revenue of 7.486 billion euros, up 9.0% year over year at current exchange rates and 7.2% at constant rates. Direct-to-consumer revenue rose 10.6% to 4.093 billion euros, while Professional Solutions revenue increased 3.4% to 3.393 billion euros. Eurofins Scientific added 3.5% after confirming its 2027 objectives, and Bureau Veritas climbed nearly 2.5%. Carrefour tanked 14.5% after warning that violent protests across France would cut this year's operating profit by 80 million to 200 million euros ($90 million-$225 million). Chief executive Alexandre Bompard said about 50 stores were looted over the weekend. Michelin fell 6%. Brent crude front-month futures rose about 1.7% to $110.75 a barrel after Iranian President Masoud Pezeshkian said the United States must lift economic sanctions before any negotiations.

ByTicklex Editorial