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CAC 40 Down 1.2%; Eurofins Scientific Rises Over 6% On Buyback Plan
(RTTNews) - French stocks are down in negative territory on Thursday, in line with other markets in Europe, with investors cashing in recent gains. Worries about the impact of tariffs and geopolitical tensions appear to be weighing as well.
On Wednesday, the Federal Reserve held interest rates, and signaled a couple of quarter percentage point cuts this year. The Swiss National Bank lowered its benchmark rate earlier today, and investors now await the Bank of England's monetary policy.
The benchmark CAC 40 was down 99.19 points or 1.21% at 8,072.28 a few minutes ago.
Thales, Airbus Group, Stellantis, Saran and ArcelorMittal are down 3 to 4%.
BNP Paribas, Societe Generale, Edenred, Renault, Teleperformance and STMicroElectronics are declining 2 to 3%.
Credit Agricole, AXA, Legrand, Vinci, Saint Gobain, Schneider Electric, Air Liquide, Bouygues, Capgemini and Accor are also notably lower.
Eurofins Scientific is rising more than 6% after announcing that it intends launching a fifth share buyback program for a maximum amount representing up to 4.5% of its share capital, starting on March 20 and lasting until March 19, 2026 at the latest.
The shares to be bought back under this program will be used to cover long-term incentive plans, but may also be cancelled, used to partially finance acquisitions or for other purposes, the company said.
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