French Stocks Hit Near 3-Month Low

2026-09-03 07:57 By Czyrill Jean Coloma 1 min. read

The CAC 40 fell 0.2% to 8,263 on Thursday, extending losses for a fourth consecutive session and slipping to its lowest level since mid-June, led by weakness in the luxury sector.

LVMH dropped 1.9%, while Hermès and Kering both shed 2.4%, as the sector remained under pressure despite early signs of stabilizing consumer sentiment.

Investors remained cautious as stimulus measures in China, the industry's most important growth market, have yet to translate into a meaningful recovery in demand, leaving luxury groups struggling to regain momentum after the disruption caused by the Iran conflict.

In contrast, Legrand rose 2.6% after Deutsche Bank upgraded the stock to "Buy" from "Hold." Further weighing on sentiment, final data showed the Composite PMI falling to 48.5 in August from 49.4 in July, as a sharper contraction in services (48 vs 49.6) more than offset an expansion in manufacturing (51.1 vs 49.8).



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French Stocks Hit Near 3-Month Low
The CAC 40 fell 0.2% to 8,263 on Thursday, extending losses for a fourth consecutive session and slipping to its lowest level since mid-June, led by weakness in the luxury sector. LVMH dropped 1.9%, while Hermès and Kering both shed 2.4%, as the sector remained under pressure despite early signs of stabilizing consumer sentiment. Investors remained cautious as stimulus measures in China, the industry's most important growth market, have yet to translate into a meaningful recovery in demand, leaving luxury groups struggling to regain momentum after the disruption caused by the Iran conflict. In contrast, Legrand rose 2.6% after Deutsche Bank upgraded the stock to "Buy" from "Hold." Further weighing on sentiment, final data showed the Composite PMI falling to 48.5 in August from 49.4 in July, as a sharper contraction in services (48 vs 49.6) more than offset an expansion in manufacturing (51.1 vs 49.8).
2026-09-03
The CAC 40 Index Opens 0.21% Lower
The CAC 40 Index is dropping 17 points. Leading the losses are Kering (-2.74%), Hermes International (-2.64%) and LVMH (-1.89%). Top gainers were Publicis (2.69%), Legrand (2.49%) and STMicroelectronics (1.41%).
2026-09-03
CAC 40 Drops as ECB Hike Bets Rise
The CAC 40 fell 0.3% to 8,281 on Wednesday, its lowest level in more than a month. As eurozone inflation rose to 3.3% and energy costs surged, markets increasingly priced in another rate hike later this month. In France, the state budget deficit widened to EUR 145.9 billion in January–July 2026 from EUR 142 billion a year earlier. Revenues rose 3.3% year-on-year to EUR 204.72 billion, while expenditures increased 4.8% to EUR 328.1 billion. Meanwhile, oil prices remained elevated as conflicts in the Middle East persisted. Luxury stocks closed mixed, with LVMH down 1.3% and Hermes losing 0.7%, while L’Oreal added 1.5% and Kering gained 1%. Industrial stocks mostly fell, with Schneider Electric down 0.5%, Safran losing 0.9% and Thales declining 0.6%. Financials were also mostly lower, with AXA down 0.9%. In contrast, TotalEnergies rose 0.9% on higher energy prices. STMicroelectronics rose 3.3%, with President and CFO Lorenzo Grandi set to address investors at Citi’s Global TMT Conference.
2026-09-02