CAC 40 Rises on Finance and Tech Gains

The CAC 40 Index gained 38 points or 0.46 percent on Thursday to close at 8424 points. Gains were led by Accor (3.16%), Societe Generale (2.79%) and STMicroelectronics (2.40%). Biggest losers were Thales (-2.42%), Publicis (-1.31%) and Stellantis NV (-1.29%).

The CAC 40 rose 0.6% to close at 8,432 on Thursday as oil prices remained near pre-conflict levels and optimism over AI-driven growth prospects returned. Growing confidence in a lasting US-Iran agreement encouraged more tankers to transit the Strait of Hormuz, keeping oil prices low and easing inflation concerns. Financial stocks posted gains, with BNP Paribas up 1.5%, AXA advancing 0.7%, and Societe Generale gaining 2.8%. Meanwhile, STMicroelectronics rose 2.7% after Micron reported strong quarterly results and issued an upbeat revenue outlook, pointing to sustained AI-related demand and helping revive appetite for technology stocks after the recent global selloff. Industrial stocks traded mixed, with Safran up 1.6%, while Thales fell 3.1% on progress toward a US-Iran ceasefire. Luxury stocks were also mixed, with LVMH and L'Oréal edging higher, while Hermès lost 0.9%.

The CAC 40 rose modestly to around 8,393 on Thursday, extending gains from the previous session as optimism over AI-driven growth prospects persisted. Investor confidence was boosted after Micron Technology posted solid quarterly results and an upbeat revenue outlook, reinforcing expectations of sustained AI-driven demand and helping revive appetite for technology stocks following the recent global selloff. Market sentiment also benefited from progress on the US-Iran ceasefire, as oil flows through the Strait of Hormuz increased, easing concerns over potential supply disruptions. Domestically, France's consumer confidence indicator rose to 84 in June from a more than three-year low of 82 in May, slightly surpassing market expectations of 83. Among individual stocks, gains were led by L'Oréal (1%), Schneider Electric (0.9%), ENGIE (1.1%), and STMicroelectronics (4.3%). On the downside, LVMH fell 1%, Hermès lost 0.7%, Airbus declined 0.5%, and Sanofi dropped 1.1%.