French stocks were largely steady on Tuesday, as BNP Paribas raised its 2025 targets and announced a 5 billion-euro share buyback program in 2023, despite posting a lower-than-expected profit in the fourth quarter.
Investors awaited a speech by Federal Reserve Chairman Jerome Powell at the Economic Club of Washington later in the day for clues to any change in the U.S. central bank’s rhetoric.
The benchmark CAC 40 was marginally higher at 7,138 after tumbling 1.3 percent in the previous session.
BNP Paribas shares advanced 1.6 percent. The lender reported that its fourth quarter net income attributable to equity holders was 2.15 billion euros, down by 6.7 percent compared to the fourth quarter 2021, due to the decrease in exceptional items compared to the fourth quarter 2021.
Market Analysis
CAC 40 Little Changed As BNP Paribas Misses Q4 Expectations
2023-02-07 09:07:27
