CAC 40 Slips as Luxury Stocks Weigh

2026-06-22 16:04 By Isabela Couto 1 min. read

The CAC 40 edged down 0.2% to close at 8,400 on Monday, weighed by losses in the luxury sector.

Luxury stocks came under pressure after Jefferies cut its price target for Hermès to €2,000 from €2,400, citing persistent mixed trends in China and a weaker-than-expected first quarter that undermined confidence in the group’s ability to sustain its industry-leading growth and profitability.

Hermès fell 5.9%, while peers LVMH dropped 3.6%, L'Oréal lost 0.5%, and Kering declined 2.1%.

On the geopolitical front, oil prices fell after US and Iranian officials concluded their first round of talks in Switzerland, easing concerns over energy-driven inflation pressures.

Industrial stocks posted gains, with Safran up 0.5% and Schneider Electric adding 1.2%.

STMicroelectronics advanced 2.2% after launching the VL53L9, a compact direct Time-of-Flight 3D LiDAR module designed for high-resolution sensing.



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