French Stocks Defy Middle East Jitters

2026-07-09 07:46 By Czyrill Jean Coloma 1 min. read

The CAC 40 rose 0.4% to 8,289 on Thursday, rebounding from a near one-month low in the previous session, despite escalating tensions between the US and Iran.

The US carried out strikes on Iranian targets for a second consecutive day, while Tehran warned of retaliation after claiming attacks on US bases in Kuwait and Bahrain.

The latest developments further clouded the outlook for peace negotiations following a recently agreed truce framework.

On the corporate front, STMicroelectronics surged 3.6%, buoyed by upbeat sentiment across the semiconductor sector after demand for SK Hynix's US share offering exceeded available shares by more than sevenfold.

The company also forecast Q2 revenue of about $3.45 billion and a gross margin of roughly 34.8%, signaling solid growth momentum.

Financial stocks also supported the index, with BNP Paribas rising 1.4%, Crédit Agricole gaining 1.2%, and Société Générale advancing 2.5%.



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French Stocks Defy Middle East Jitters
The CAC 40 rose 0.4% to 8,289 on Thursday, rebounding from a near one-month low in the previous session, despite escalating tensions between the US and Iran. The US carried out strikes on Iranian targets for a second consecutive day, while Tehran warned of retaliation after claiming attacks on US bases in Kuwait and Bahrain. The latest developments further clouded the outlook for peace negotiations following a recently agreed truce framework. On the corporate front, STMicroelectronics surged 3.6%, buoyed by upbeat sentiment across the semiconductor sector after demand for SK Hynix's US share offering exceeded available shares by more than sevenfold. The company also forecast Q2 revenue of about $3.45 billion and a gross margin of roughly 34.8%, signaling solid growth momentum. Financial stocks also supported the index, with BNP Paribas rising 1.4%, Crédit Agricole gaining 1.2%, and Société Générale advancing 2.5%.
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