Capgemini jumps as Accenture results challenge 'AI losers' narrative
BUZZ-Capgemini jumps as Accenture results challenge 'AI losers' narrative Oct 1 (Reuters) - ** Capgemini CAPP.PA Shares jump ~9.5%, after upbeat results from US peer Accenture ACN.N
** French IT consulting group among top gainers on STOXX 600 .STOXX
** Accenture sees upbeat annual sales after Q4 revenue beat, robust bookings; shares surge 20.3%
** Key takeaway: accelerating revenue growth, a 1.2x book-to-bill ratio that signals resilient demand - Kepler Cheuvreux
** Says results "somewhat challenge the AI losers scenario", suggesting investors may be reassessing concerns that generative AI could hurt demand for traditional IT services and consulting firms
** Wider European software and IT services sector rises: Atos ATOS.PA, Reply REY.MI climb ~6%; TeamViewer TMV.DE, Planisware PLNW.PA gain ~3.5%; Sage SGE.L ahead 2.4%; SAP SAPG.DE, Wolters Kluwer WLSNc.AS tick up 2.1%
(Reporting by Jerome Terroy)