L'Oreal 's shares dropped sharply in Paris after the French cosmetics maker's third-quarter sales missed expectations. Third-quarter sales of 10.3 billion euros ($12.01 billion) were hampered by weaker performance in North America.

The stock was down around 7% at 0710 GMT, heading for its biggest one-day decline since February 2024 if losses hold.

Deutsche Bank analysts said in a note published ahead of the market open that they expected the stock to be weaker, pointing to the quarterly miss and a lack of visibility on performance in upcoming quarters, coupled with a risk of slower growth in China.

"Yesterday's conference call leaves much to be desired with a murkier beauty outlook, which should weigh on shares today," Barclays said in its note.

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