The CAC 40 Index Opens 1.51% Lower

The CAC 40 fell 1.5% to 7,851 on Thursday, extending losses from the previous session and hitting a near two-week low as market sentiment remained sour amid a renewed escalation of tensions in the Middle East. Global markets came under pressure after Iran launched attacks on regional energy facilities following an earlier strike on the South Pars gas field, heightening concerns over energy supply disruptions and rising inflation. In Europe, attention turns to the upcoming policy decision from the European Central Bank. The central bank is expected to keep interest rates unchanged, but investors will watch policymakers’ remarks for clues on how the ECB plans to manage the economic fallout from the ongoing conflict. Heavyweight luxury stocks led the decline, with shares of LVMH falling 1.5%, Hermès dropping 1.4%, and Kering losing 1.4%. Banking stocks were also under pressure, with BNP Paribas slipping 1.6%, Crédit Agricole decreasing 1.3%, and Société Générale falling 1.7%.

The CAC 40 Index is losing -120 points. Losses were led by ArcelorMittal (-4.76%), Accor (-4.24%) and Saint-Gobain (-3.22%).

The CAC 40 Index fell -5 points or 0.06 percent on Wednesday to close at 7970 points. Leading the losses are Publicis (-3.74%), Danone (-3.45%) and Pernod Ricard (-2.32%). Top gainers were Societe Generale (2.96%), BNP Paribas (1.86%) and Legrand (1.71%).