BRUSSELS (dpa-AFX) - The French stock market's benchmark index CAC 40 climbed higher on Wednesday as investors reacted to quarterly earnings announcements and continued to track political news and the trend in the oil market.
Higher crude oil prices limited market's upside. Brent crude front-month futures climbed to $110.75 a barrel, gaining about 1.7%.
Oil prices moved up after Iranian President Masoud Pezeshkian said that the United States must end pressure and threats, cease regional pressure, and lift economic sanctions before any negotiations.
The CAC 40 was up 45.72 points or 0.58% at 7,884.21 nearly an hour past noon.
EssilorLuxottica soared nearly 15% on upbeat earnings update. The company reported on Tuesday that its third quarter revenue came in at Euro 7.486 billion, up 9.0% year over year at current exchange rates and 7.2% at constant exchange rates.
Direct to Consumer revenue rose 10.6% at constant exchange rates to Euro 4.093 billion, supported by comparable-store sales growth of 6.8%. Professional Solutions revenue increased 3.4% to Euro 3.393 billion, the company said.
Testing group Eurofins Scientific moved up 3.5% after confirming its objectives for 2027.
Bureau Veritas climbed nearly 2.5%. Capgemini advanced 2%, while Euronext, Legrand and STMicroelectronics gained 1.7%, 1.5% and 1.3%, respectively.
TotalEnergies gained nearly 1%. AXA, Dassault Systemes, Vinci, Bouygues and Thales posted modest gains.
Carrefour tanked 14.5% following the supermarket chain warning that the recent violent protests across France would dent its profits. Chief executive Alexandre Bompard said around 50 Carrefour stores were looted over the weekend, and it expects operating profit will be cut this year by 80 million to 200 million euros ($90-$225 million) as a result.
Michelin tumbled 6%. Saint-Gobain lost about 1.7%, while Renault, Pernod Ricard and Veolia Environment shed 1.4%, 1.1% and 1%, respectively.
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