CAC 40 Slides to Three-Week Low
The CAC 40 fell 1.2% on Tuesday to around 8,010 points, marking its lowest level since October 14. The French benchmark extended the previous session’s losses, erasing part of October’s 2.9% gain, its strongest monthly performance since January 2025, as a broader risk-off sentiment spread across global markets. Investor caution deepened amid the ongoing US government shutdown, which has delayed key economic releases. Market attention now turns to this week’s ADP employment report for fresh insights into US labor market conditions. Among individual movers, Edenred slumped 9.5% after the vouchers and benefits provider forecast slower annual core profit growth for 2026. STMicroelectronics dropped 3.6% after revealing it had repurchased about 347,647 shares (roughly 0.04% of its capital) for €7.5 million under its buyback program. Heavyweights ArcelorMittal (-2.5%), Schneider Electric (-2.4%), and Hermès (-2.0%) also dragged on the index.
DAX at Over 1-Month Low
Germany’s DAX came under pressure on Tuesday, falling more than 1.5% to around 23,760, a low level not seen since late September, reversing Monday’s tepid gains. The pullback came amid a cautious global mood, as mixed corporate earnings and fading enthusiasm for AI dented risk appetite. Meanwhile, Lagarde’s remarks were widely anticipated, following the ECB’s decision last Thursday to keep key interest rates unchanged for a third consecutive meeting. All sectors were trading in the red. Losses were led by Fresenius Medical Care, which sank nearly 6%, after posting surprisingly strong revenue and earnings in Q3 but continuing sluggish growth in its key US business. It was followed closely by Infineon Technologies, Zalando, Continental, Heidelberg Materials and Adidas, each down around 2%.
FTSE 100 Falls for 3rd Session
The FTSE 100 fell over 0.5% on Tuesday, marking its third straight decline, weighed down by losses in major constituents and mining stocks. Heavyweights like Rolls-Royce, Shell, and HSBC slipped between 1% and 1.5%, while miners Rio Tinto, Antofagasta, and Anglo American dropped about 1.5%, 3%, and 2.5%, respectively. BP edged down 0.3% despite posting stronger-than-expected Q3 profits of $2.2 billion and announcing a $750 million share buyback. The company said divestment proceeds will exceed $4 billion this year, with cost-cutting efforts on track, following the sale of US shale stakes for $1.5 billion. On the policy front, Chancellor Rachel Reeves delivered a speech outlining the UK’s fiscal challenges ahead of the late-November budget, signaling potential tax hikes. She blamed prior mismanagement and global headwinds for the weak economy but reaffirmed her “iron-clad” fiscal rules and focus on curbing inflation to enable future rate cuts while controlling debt.
