French equities are inching up after a slow start on Tuesday morning, with investors turning their attention to forthcoming monetary policy decisions from the Federal Reserve and the European Central Bank, along with updates on quarterly earnings.
A report highlighting improved consumer confidence in France for January is providing a slight boost to market sentiment.
The market faced significant setbacks in the previous session, largely driven by anxiety over tech earnings due to the introduction of Chinese startup DeepSeek's AI model.
The CAC 40 index has risen by 27.72 points, or 0.35%, reaching 7,934.30, after an early dip to 7,879.33.
Data from INSEE, the national statistics office, revealed a slight recovery in French consumer confidence at the year's start. The consumer sentiment index increased to 92 in January, reaching a three-month high from December's 89. This surpassed expectations of 90. However, the figure remains below the long-term average of 100.
The measure reflecting consumers' expectations of their financial situation improved to -10.0 in January from -14.0 the previous month. Meanwhile, the sub-index for households' past financial situation rose marginally to -22 from -23.
Leading the gainers, Eurofins Scientific has climbed 2.3%. Societe Generale, Capgemini, Orange, and Engie have increased by 1.5% to 1.7%.
Meanwhile, companies such as Edenred, Danone, Veolia, Dassault Systèmes, Publicis Groupe, Credit Agricole, Carrefour, L'Oreal, and Thales are also advancing, gaining between 0.7% and 1.2%.
French engineering and technology consultancy Alten SA is experiencing a 9% surge after reporting a revenue increase of 1.8% for 2024.
Conversely, Schneider Electric continues its downward trend, dropping about 4%, while STMicroelectronics has dipped approximately 1.25%.