FX.co ★ CAC Down 1 P.c. As Stocks Fall On Weak Manufacturing Data

French stocks were markedly negative late Thursday morning, as earlier losses were exacerbated by disappointing data showing a significant downturn in the country's manufacturing sector in December.

The benchmark index, CAC 40, dropped 71.41 points or 0.97%, positioning at 7,309.33.

Final figures from S&P Global confirmed a decrease in the HCOB France Manufacturing PMI, descending to 41.9 in December from 43.1 in November. This represents the steepest decline in manufacturing activity since May 2020.

Prominent decliners include Kering, down by 3.4%, while LVMH and Hermes International decreased by 2.3% and 2.5%, respectively. BNP Paribas and Edenred also experienced a 2.1% dip from their previous closing values.

Other significant stocks such as L'Oreal, Societe Generale, Credit Agricole, Stellantis, Accor, Saint-Gobain, Essilor, Pernod Ricard, Vinci, Schneider Electric, Renault, and STMicroelectronics are trading 1% to 2% lower.

Conversely, Airbus sees an increase of nearly 2%. Both Engie and Safran show gains of 0.8% and 0.7% respectively, while Orange and Michelin rise marginally.