The CAC 40 Index Opens 0.44% Lower

The CAC 40 slipped 0.6% to 8,358 on Wednesday, as investors took a breather following the market’s strong performance over the past three months. Investors remained focused on developments in US-Iran peace talks after Tehran said it would not hold talks with US officials, while also awaiting remarks from policymakers at the ECB Forum later in the day. Meanwhile, ECB Governing Council member Martins Kazaks signaled there was no urgency to raise interest rates in July, noting that easing oil prices driven by peace efforts in the Middle East had helped reduce inflationary pressures. On the corporate front, Schneider Electric fell 2.6% after agreeing to acquire Cognite Holding. In contrast, Air Liquide rose nearly 2% to a record high after announcing a $170 million investment in the US to supply ultra-pure gases to SK Hynix. Airbus also gained 1.7%, reaching a more than four-month high after SAS ordered up to 40 widebody aircraft in a deal worth over $10 billion at list prices.

The CAC 40 Index is losing 37 points. Losses were led by Publicis (-4.74%), Schneider Electric (-2.54%) and Societe Generale (-1.58%). Offsetting the fall, top gainers were Renault (2.47%), Air Liquide (2.02%) and Airbus (1.61%).

The CAC 40 Index rose 37 points or 0.44 percent on Tuesday to close at 8404 points. Leading the gains are Schneider Electric (2.88%), Safran (2.47%) and ArcelorMittal (2.33%). Top losers were TP (-11.12%), Kering (-6.44%) and Capgemini (-2.85%).