CAC 40 Declines On China Concerns

(RTTNews) - 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.