The CAC 40 Index Opens 0.48% Higher

The CAC 40 rose 0.5% to 8,211 on Wednesday, rebounding from the previous session as investors remained optimistic that the US and Iran could still secure a diplomatic agreement despite renewed tensions in the Middle East. US Secretary of State Marco Rubio said a possible deal to end the conflict could be reached within days, although disagreements over Tehran’s frozen assets and access through the Strait of Hormuz remained unresolved. Meanwhile, François Villeroy de Galhau, Governor of the Bank of France, emphasized that the European Central Bank “will do what is necessary” to return inflation to its 2% target as the ongoing conflict continued to cloud the economic outlook. Luxury stocks led gains, particularly LVMH (1.5%), Hermès (1.5%), and Kering (2.6%). In addition, auto stocks such as Stellantis (2.3%) and Renault (2.9%) posted solid increases after peer Volvo Cars obtained approval from the US to continue operating in the US market.

The CAC 40 Index is gaining 39 points or 0.48 percent on Wednesday. Leading the gains are Renault (3.84%), Kering (3.13%) and Stellantis NV (2.54%). Top losers are Capgemini (-3.64%), ENGIE (-2.35%) and TotalEnergies SE (-2.21%).

The CAC 40 Index decreased 85 points or 1.03 percent on Tuesday to close at 8173 points. The decline was led by Carrefour (-6.05%), Credit Agricole (-6.05%) and TP (-4.96%).