The CAC 40 Index Closes 0.46% Higher

The CAC 40 Index gained 39 points or 0.46 percent on Thursday to close at 8470 points. Gains were led by Edenred (17.17%), Kering (4.42%) and Legrand (4.14%). Biggest losers were Capgemini (-8.87%), Carrefour (-6.17%) and ArcelorMittal (-3.39%).

The CAC 40 rose 0.4% to close at 8,468 on Thursday, rebounding from the previous session after the US and Iran signed an interim peace agreement. The deal aims to end the conflict and reopen the Strait of Hormuz, while negotiations over Tehran’s nuclear program are set to begin later this week. Oil prices fell after the agreement, easing concerns over a new wave of global inflation and prolonged high interest rates. Most luxury stocks moved higher as risk aversion eased, with Hermès up 2% and Kering gaining 4.4%. Industrial stocks also advanced, with Airbus rising 2.6% and Safran adding 2.9%. STMicroelectronics climbed 4.2%, tracking gains in US semiconductor stocks and following its $1.5 billion convertible bond sale announced on Wednesday. In contrast, TotalEnergies fell 2.6% as oil prices declined. Investors also continued to assess the Federal Reserve’s hawkish outlook after it kept rates unchanged while signaling that further tightening may still be needed to contain inflation.

The CAC 40 rose 0.2% to 8,451 on Thursday, rebounding from the previous session as investor sentiment improved following reports that the US and Iran had signed an interim peace agreement. The deal reportedly includes the reopening of the Strait of Hormuz, a $300 billion (£224 billion) reconstruction program for Iran, and the removal of all US sanctions, easing concerns over geopolitical tensions and global energy supplies. Meanwhile, investors continued to weigh hawkish signals from Fed Chair Kevin Warsh, who hinted that higher interest rates may be needed to rein in inflation after the Federal Reserve's recent decision to leave rates unchanged. On the corporate front, Schneider Electric gained 2.9% to a record high after the company announced a partnership with GIZ Egypt aimed at expanding the global ClimAccelerator program in the country. Other notable gainers included Airbus (2.7%), Safran (1.9%), and Legrand (3.6%).