L'Oréal surges by 8%, CAC 40 remains resilient thanks to quarterly reports

A Session Driven by Quarterly Results

This Thursday, the Paris stock exchange is driven by the rhythm of earnings reports. Several major CAC 40 companies revealed their first-quarter results before the market opened, causing some significant price swings. The result is a mixed session: the benchmark index manages to post a slight gain, but only thanks to the boost from a few leading stocks.

The mood in Europe is more mixed. Germany's DAX fell by 0.31% during the session, while the UK's FTSE 100 dropped 0.65%. The pan-European STOXX 600 lost 0.24%. Paris thus stands out relatively, supported by the rebound of some of its flagship stocks. Across the Atlantic, Wall Street closed higher the previous day, with the Dow Jones rising by 0.69% and the S&P 500 by 1.05%. In Asia, however, the trend was negative: the Nikkei ended down 0.75% and the Hang Seng lost 0.95%.

L'Oréal, Sanofi, and STMicroelectronics Lead the Gains

L'Oréal leads the CAC 40 rankings with a jump of 8.19% to 373.15 euros. The cosmetics giant reported quarterly revenue of 12.15 billion euros, up 3.6% on a published basis. The 6.7% growth in adjusted comparable data particularly impressed investors, as the group outperformed the global beauty market despite an unfavorable exchange rate effect estimated at 5.5%.

STMicroelectronics rises 6.54% to 39.91 euros, driven by a 23% year-on-year increase in first-quarter revenue, boosted notably by the integration of NXP’s MEMS sensor business. The market seems to have focused on commercial dynamism rather than the 34% drop in net income, weighed down by 71 million dollars in restructuring charges.

Dassault Systèmes is up 4.65% to 19.81 euros following the publication of solid first-quarter results, as is Sanofi, which climbs 3.29% to 83.44 euros. The pharmaceutical company announced a 13.6% increase in sales at constant exchange rates, with a net earnings per share growth of 14%. Its blockbuster Dupixent surpassed 4 billion euros in quarterly revenue. The stock also benefits from the FDA's approval of a pediatric extension for this treatment. Orange gains 2.97% to 17.88 euros after posting a 3.5% revenue growth, although part of this increase is attributed to approximately 100 million euros of exceptional items.

EssilorLuxottica and Capgemini at the back of the pack

On the downside, EssilorLuxottica records the steepest drop in the CAC 40, falling 4.17% to 193.10 euros. Jefferies and Alphavalue both lowered their price targets for the stock this Thursday while maintaining their positive recommendations. Capgemini loses 2.76% to 103.80 euros, with no identified news this morning. The IT consulting giant is experiencing continued weakness in a challenging environment for tech service stocks.

ArcelorMittal falls 2.22% to 51.10 euros. The steelmaker released a sustainability report indicating a 47.7% reduction in CO? emissions. Société Générale decreases by 2.15% to 68.86 euros, dragging the banking sector into the red. Carrefour drops 1.73% to 16.51 euros, despite a price target increase by Barclays, from 17.20 to 18 euros.

By midday, the Paris session is clearly shaped by quarterly earnings reports. The performance gaps between companies that have reported and others highlight a market arbitrating stock by stock, without a clear sectoral trend.