French Stocks Extend Gains to Over 2-Week High

2026-05-07 07:50 By Czyrill Jean Coloma 1 min. read

The CAC 40 rose 0.7% to 8,354 on Thursday, extending gains for a third straight session and reaching its highest level in over two weeks, as market sentiment remained positive amid growing optimism over a diplomatic breakthrough between the US and Iran.

Reports indicate the two sides are close to finalising a one-page memorandum aimed at de-escalating weeks of heightened tensions, which is expected to lay the groundwork for reopening the Strait of Hormuz, easing pressure on oil flows and improving the global growth outlook.

Meanwhile, corporate earnings remained in focus.

Legrand climbed 3.4% after reporting higher Q1 revenue and profit.

Elsewhere, luxury heavyweights also performed well, particularly LVMH (1.8%), Hermès (2.2%) and Kering (1.3%).

On the downside, Engie slipped 2.1% after reporting a decline in Q1 earnings, and Bouygues fell 2.2% even as it narrowed its net loss and posted higher operating profit.



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French Stocks Extend Gains to Over 2-Week High
The CAC 40 rose 0.7% to 8,354 on Thursday, extending gains for a third straight session and reaching its highest level in over two weeks, as market sentiment remained positive amid growing optimism over a diplomatic breakthrough between the US and Iran. Reports indicate the two sides are close to finalising a one-page memorandum aimed at de-escalating weeks of heightened tensions, which is expected to lay the groundwork for reopening the Strait of Hormuz, easing pressure on oil flows and improving the global growth outlook. Meanwhile, corporate earnings remained in focus. Legrand climbed 3.4% after reporting higher Q1 revenue and profit. Elsewhere, luxury heavyweights also performed well, particularly LVMH (1.8%), Hermès (2.2%) and Kering (1.3%). On the downside, Engie slipped 2.1% after reporting a decline in Q1 earnings, and Bouygues fell 2.2% even as it narrowed its net loss and posted higher operating profit.
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The CAC 40 climbed 2.9% to close at 8,299 on Wednesday, extending gains from the previous session as an improved geopolitical backdrop and upbeat corporate earnings lifted sentiment. US President Donald Trump signaled a pause in efforts to assist vessels in the Strait of Hormuz, citing ongoing talks with Iran, and said “great progress” had been made toward a potential agreement, easing concerns over disruptions to a key energy corridor. Financials led gains, with BNP Paribas (+5.2%), Société Générale (+5.5%), and Crédit Agricole (+3.6%) advancing, while AXA rose 3.7% after reporting solid Q1 growth and reaffirming full-year targets. Luxury stocks also performed strongly, with LVMH (+5.1%), Hermès (+5.3%), and Kering (+6.7%) higher. Industrials rallied, with Safran (+9.0%) and Airbus (+6.0%) rising after March industrial output grew 1% month-on-month, beating expectations.
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