CAC 40 Drifts Lower On Rate Worries, Mideast Tensions
French stocks edged lower on Friday as an escalation of the tensions in the Middle East and cautious comments from more Federal Reserve officials on how to manage inflation and interest rates in the coming months soured investor mood.
The benchmark CAC 40 was down 44 points, or 0.6 percent, at 7,978 after gaining half a percent on Thursday.
Sodexo SA, a food services and facilities management firm, rallied 2.5 percent as it posted a net loss for the first half, mainly due to a higher loss from discontinued operations.
The company said it expects 2024 organic revenue growth at the top of its 6-8 percent range.
Schneider Electric SA, a digital automation and energy management firm, was down 2.4 percent.
The company confirmed that it has been engaged in preliminary talks on a potential deal with Bentley Systems Inc. (BSY), an American software company.
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