CAC 40 Closes at September Lows

2026-03-13 16:53 By Felipe Alarcon 1 min. read

The CAC 40 index fell 0.9% to close at 7,912 on Friday, the lowest since September as multiyear high unemployment rate and escalating energy costs in the Middle East stoked fears of a stagflationary environment.

This recent rise in the jobless rate to 7.9% has intensified concerns over domestic consumption as the blockade of the Strait of Hormuz pushes oil prices toward 100 dollars per barrel.

TotalEnergies climbed 2.7% as energy prices spiked while luxury giants like LVMH and Kering dropped 4.3% and 2.8%, respectively due to waning global demand.

Revised inflation data for February rose to 0.9% and reinforced expectations that the European Central Bank will initiate a rate hike as early as June.

Banking stocks including Societe Generale also retreated as market participants weighed the impact of tighter monetary policy on a cooling regional economy.

The euro weakened generally as the US dollar attracted safe haven flows during the largest wave of strikes yet against Iranian targets.



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