CAC 40 Dips on US-Iran Tensions and Mixed Earnings

2026-07-29 15:59 By Isabela Couto 1 min. read

The CAC 40 fell 0.6% to close at 8,408 on Wednesday as escalating Middle East tensions and a wave of corporate earnings weighed on sentiment.

Oil prices rose after joint US-Saudi strikes in Iraq, fueling inflation concerns and pushing bond yields higher.

BNP Paribas and AXA each lost 1.2%.

In the luxury sector, Hermès plunged 11% after reporting first-half diluted EPS below expectations.

LVMH fell 0.5%, while L'Oréal slipped 0.2% ahead of its earnings release.

In contrast, Kering surged 16.9% after Gucci posted better-than-expected sales.

Danone lost 2.3% despite solid results, while Legrand edged down 0.3% after reporting higher sales and net profit.

Airbus slipped 1% ahead of releasing earnings that later beat estimates.

Vinci is due to report on Thursday.

TotalEnergies gained 2.8% as higher oil prices lifted energy shares.



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