French Stocks Extend Decline

2026-03-12 08:49 By Czyrill Jean Coloma 1 min. read

The CAC 40 fell 0.8% to 7,979 on Thursday, extending losess from the previous session as market sentiment remained subdued amid ongoing Middle East tensions.

In a recent development, Iraq shut down operations at its oil terminals after two tankers were attacked in Iraqi waters, raising concerns over regional oil supply.

With Europe heavily reliant on oil imports, inflation could rise further if crude prices stay elevated.

Money markets now price in an ECB rate hike by July, with an 85% chance of another increase by December.

This marked a sharp shift from February expectations of a year-end cut.

Sentiment was also hit after US President Donald Trump launched new trade probes targeting the EU and other economies, aimed at replacing the reciprocal tariffs struck down by the Supreme Court.

Financial stocks lagged, with BNP Paribas, Crédit Agricole, and Société Générale down between 0.6% and 1.1%.

Other notable losers included LVMH (-1.1%), Schneider Electric (-1%), and Sanofi (-1%).



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