French Stocks Retreat as Luxury Sector Weighs

2026-04-15 07:47 By Czyrill Jean Coloma 1 min. read

The CAC 40 fell 0.6% to 8.78 on Wednesday, retreating from a more than one-month high reached in the previous session as heavyweight luxury stocks dragged the index lower.

Hermès led the declines, plunging 13.4% to its lowest level since January 2023 after reporting weaker-than-expected Q1 sales, as the Iran conflict dampened spending in the Middle East and reduced tourist demand in Paris.

Kering dropped 8.9% to a two-week low after sales at its flagship brand, Gucci, posted its eleventh straight quarterly decline.

Meanwhile, LVMH lost 1.9% as organic revenue in its key segment dropped, while overall group sales missed expectations.

Meanwhile, optimism over US-Iran diplomacy stalled, despite reports that the two sides are working to have a second round of ceasefire talks.

Domestically, the annual inflation rate was confirmed at a fourteen-month high of 1.7% in March 2026, driven largely by a sharp rebound in energy prices amid disruptions linked to the Iran conflict.



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French Stocks Retreat as Luxury Sector Weighs
The CAC 40 fell 0.6% to 8.78 on Wednesday, retreating from a more than one-month high reached in the previous session as heavyweight luxury stocks dragged the index lower. Hermès led the declines, plunging 13.4% to its lowest level since January 2023 after reporting weaker-than-expected Q1 sales, as the Iran conflict dampened spending in the Middle East and reduced tourist demand in Paris. Kering dropped 8.9% to a two-week low after sales at its flagship brand, Gucci, posted its eleventh straight quarterly decline. Meanwhile, LVMH lost 1.9% as organic revenue in its key segment dropped, while overall group sales missed expectations. Meanwhile, optimism over US-Iran diplomacy stalled, despite reports that the two sides are working to have a second round of ceasefire talks. Domestically, the annual inflation rate was confirmed at a fourteen-month high of 1.7% in March 2026, driven largely by a sharp rebound in energy prices amid disruptions linked to the Iran conflict.
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The CAC 40 gained 1.1% to close at 8,328 on Tuesday, the highest level since early March, supported by reports that US-Iran talks could resume this week. Oil prices fell on hopes for an end to conflict-driven supply shortages, easing stagflation and interest rate hike fears. Most luxury brands posted gains as risk aversion declined, with L'Oreal up 1.1%, Hermes gaining 1.2%, and Kering advancing 2.9%. The industrial sector also traded positive, with Airbus gaining 1.3% and Safran advancing 2.3%. TotalEnergies lost 2.8% on falling oil prices. LVMH closed around the flatline after posting a decline in Q1 revenue and warning that the Iran conflict reduced group sales by at least 1% in the latest quarter, citing weaker demand in the Gulf.
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