(RTTNews) - French stocks turned in a mixed performance on Thursday as investors focused on news from the geopolitical front and reacted to data showing a contraction in French manufacturing and services sector activity.
The benchmark CAC 40 was down 30.89 points or 0.38% at 8,086.53 about half an hour past noon. The index, which dropped to 8,084.52 in early trades, climbed to 8,153.55 before turning weak again.
Pernod Ricard, Stellantis, Euronext and Capgemini gained 1.5%-1.8%.
STMicroelectronics, Sanofi, Publicis Groupe, Air Liquide, Renault, Saint Gobain, Safran, LVMH and Unibail Rodamco moved up 1%-1.4%.
Thales, Eurofins Scientific, Michelin, Legrand, Credit Agricole, Schneider Electric, Credit Agricole and Bureau Veritas posted moderate gains.
Eiffage fell more than 2%. Airbus drifted lower by about 1.3%, while Societe Generale, Danone and Orange shed 0.6%-0.8%.
Flash survey data from S&P Global showed France's private sector contracted at the sharpest pace in five-and-a-half years in May.
The flash composite output index dropped to 43.5 in May from 47.6 in the prior month. This was the lowest score since November 2020 and also stayed below forecast of 47.7.
The survey showed an accelerated decline in services activity accompanied by a fresh fall in manufacturing output. The services Purchasing Managers' Index dropped unexpectedly to 42.9 in May from 46.5 in the prior month. The score was seen at 46.6.
The manufacturing PMI posted 48.9 compared to 52.8 in the prior month. The reading was expected to fall moderately to 52.1.
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