BRUSSELS (dpa-AFX) - French stocks are up firmly in positive territory Thursday morning as investors shrug off tariff concerns for now, and react to some impressive corporate earnings and data showing an improvement in the nation's construction activity.
The benchmark CAC 40 has climbed to 7,959.62, gaining 67.94 points or 0.86%.
Societe Generale shares are up nearly 10% on strong quarterly earnings. The bank said that net income for the fourth-quarter increased to 1.04 billion euros from 429 million euros in the year-ago quarter. Net banking income increased to 6.62 billion euros from 5.96 billion euros, the bank said.
Net income for 2024 increased to 4.20 billion euros from 2.49 billion euros, prior year. Earnings per ordinary share was 4.38 euros compared to 2.17 euros.
ArcelorMittal is climbing 5.7% after the company reported narrower net loss in its fourth-quarter, and higher sales. Net loss attributable to equity holders of the parent was $390 million, compared to prior year's loss of $2.97 billion. Basic loss per share was $0.51, compared to loss of $3.57 last year.
Looking ahead, the company expects higher apparent demand in fiscal 2025 compared to fiscal 2024. With low inventory levels, especially in Europe, the Company is optimistic that restocking activity will supplement real demand improvement.
Teleperformance is up 3% and Pernod Ricard is gaining 2.5%. Unibail Rodamco, Schneider Electric, Saint-Gobain, Renault, Michelin, Vivendi, BNP Paribas and Veolia are up 1 to 1.8%.
Data from S&P Global showed the French construction activity in January 2025 declined at the slowest pace since November 2023. The HCOB Construction PMI came in at 44.5 for January, up from December's 42.6 score.
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