FX.co ★ CAC 40 Slides As Fed Flags Lack Of Further Progress On Inflation

French stocks experienced a significant drop on Thursday, following the announcement from the U.S. Federal Reserve that there will be no plans to trim back interest rates until there's substantial certainty that inflation is slowing down.

Furthermore, the latest HCOB PMI statistics played a role in dimming investor sentiments as they revealed a continued decline in the French manufacturing sector at the onset of the second quarter.

Following the May Day holiday, resumption of trading found the benchmark CAC 40 down by 67 points, which represents a 0.8 percent decrease, settling at 7,919.

On a corporate level, Teleperformance, a company that specializes in office services and call centers, made significant strides with a nearly 10 percent surge. This came after a 26.7 percent leap in quarterly revenue, thanks to its successful acquisition of its Dutch competitor, Majorel, completed last year.