French Stocks Track European Peers Lower

2026-06-03 08:09 By Czyrill Jean Coloma 1 min. read

The CAC 40 fell 0.5% to 8,166 on Wednesday, tracking broader European markets lower as investors weighed uncertainty surrounding the US-Iran ceasefire and fresh tariff threats from the US.

Renewed tensions resurfaced in the Middle East after Iran launched ballistic missiles toward neighboring countries, prompting retaliatory US strikes on Qeshm Island.

Trade concerns also emerged after the US Trade Representative proposed tariffs of up to 12.5% on 60 trading partners, including the European Union, over alleged failures to prohibit imports linked to forced labor.

Domestically, final estimates showed the Composite PMI was revised up to 44.9 in May 2026, though it stillmarked the sharpest downturn since January 2024.

The Services PMI was also revised higher to 44.3 but remained at its steepest contraction since November 2020.

Industrial and aerospace shares led the decline, with Schneider Electric (-0.9%), Airbus (-1.8%), and Safran (-1.7%) among the biggest drags on the index.



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French Stocks Track European Peers Lower
The CAC 40 fell 0.5% to 8,166 on Wednesday, tracking broader European markets lower as investors weighed uncertainty surrounding the US-Iran ceasefire and fresh tariff threats from the US. Renewed tensions resurfaced in the Middle East after Iran launched ballistic missiles toward neighboring countries, prompting retaliatory US strikes on Qeshm Island. Trade concerns also emerged after the US Trade Representative proposed tariffs of up to 12.5% on 60 trading partners, including the European Union, over alleged failures to prohibit imports linked to forced labor. Domestically, final estimates showed the Composite PMI was revised up to 44.9 in May 2026, though it stillmarked the sharpest downturn since January 2024. The Services PMI was also revised higher to 44.3 but remained at its steepest contraction since November 2020. Industrial and aerospace shares led the decline, with Schneider Electric (-0.9%), Airbus (-1.8%), and Safran (-1.7%) among the biggest drags on the index.
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