CAC 40 Rebounds on Luxury Sector Gains

2026-06-24 15:53 By Isabela Couto 1 min. read

The CAC 40 rose 0.5% to close at 8,385 on Wednesday, snapping a three-session losing streak as gains in the luxury sector supported the index.

Luxury heavyweights outperformed after Jefferies raised L'Oreal’s target price to €328 from €323, while maintaining a “below market performance” recommendation and citing elevated profitability.

Peers LVMH (+1.9%), Hermes (+1.5%), and Kering (+1%) also advanced.

Investors remained focused on US-Iran peace negotiations amid signs of improving shipping activity through the Strait of Hormuz, although uncertainty persisted over whether Tehran would allow United Nations inspectors access to its nuclear facilities.

Industrial stocks also traded higher, with Airbus up 0.9% and Safran gaining 2.2%.

Meanwhile, Thales fell 1.2% as European defense stocks came under pressure after Rheinmetall plunged on reports that the German government may withdraw funding for a new warship project.

Elsewhere, TotalEnergies lost 1.8% on lower oil prices.



News Stream
The CAC 40 Index Closes 0.54% Higher
The CAC 40 Index went up by 45 points or 0.54 percent on Wednesday to close at 8385 points. The rise was led by Saint-Gobain (3.31%), L'Oréal (3.05%) and Danone (2.84%). On the downside, the weakerst performers were TP (-4.85%), ArcelorMittal (-2.90%) and TotalEnergies SE (-1.96%).
2026-06-24
CAC 40 Rebounds on Luxury Sector Gains
The CAC 40 rose 0.5% to close at 8,385 on Wednesday, snapping a three-session losing streak as gains in the luxury sector supported the index. Luxury heavyweights outperformed after Jefferies raised L'Oreal’s target price to €328 from €323, while maintaining a “below market performance” recommendation and citing elevated profitability. Peers LVMH (+1.9%), Hermes (+1.5%), and Kering (+1%) also advanced. Investors remained focused on US-Iran peace negotiations amid signs of improving shipping activity through the Strait of Hormuz, although uncertainty persisted over whether Tehran would allow United Nations inspectors access to its nuclear facilities. Industrial stocks also traded higher, with Airbus up 0.9% and Safran gaining 2.2%. Meanwhile, Thales fell 1.2% as European defense stocks came under pressure after Rheinmetall plunged on reports that the German government may withdraw funding for a new warship project. Elsewhere, TotalEnergies lost 1.8% on lower oil prices.
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French Stocks Hover Near Flatline
The CAC 40 hovered near the flatline at around 8,350 on Wednesday, extending a cautious tone after three consecutive sessions of losses, as a broad technology selloff and persistent Federal Reserve hawkishness kept investors on the sidelines. Investors also remained focused on US-Iran peace negotiations amid signs of improving shipping activity through the Strait of Hormuz. However, uncertainty persisted over whether Tehran would grant UN inspectors access to its nuclear facilities. Luxury heavyweights outperformed, with LVMH rising 2% and Hermès gaining 1.3%. Meanwhile, Thales fell 1.9% and Airbus slipped 0.2% as European aerospace and defense stocks came under pressure after Rheinmetall plunged on reports that the German government may withdraw funding for a new warship project.
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