The CAC 40 Index Opens 0.27% Lower

The CAC 40 fell 0.4% to 8,270 on Tuesday, reversing the previous session’s gains and hitting its lowest level since July, as investors weighed rising oil prices and inflation pressures amid escalating Middle East tensions. Iranian Foreign Ministry spokesman Esmaeil Baghaei said Iran and Oman were in the final stages of an agreement to establish a safe maritime route through the Strait of Hormuz, though disruptions to oil shipments continued to fuel supply concerns. The European Central Bank now expects to raise borrowing costs by 25 bps, especially after eurozone inflation accelerated to 3.3% in August, its highest level in nearly three years and well above the ECB’s 2% target. Banking stocks came under pressure, particularly BNP Paribas (-1%), Crédit Agricole (-0.8%) and Société Générale (-2.4%). Other notable laggards included Hermès (-1.3%), STMicroelectronics (-1.6%) and Airbus (-0.9%).

The CAC 40 Index is falling 22 points. Losses were driven by Societe Generale (-2.29%), Eurofins Scientific SE (-1.13%) and Saint-Gobain (-1.11%). Biggest rises came from Danone (1.48%), Bureau Veritas (1.33%) and Carrefour (1.23%).

The CAC 40 Index gained 27 points or 0.33 percent on Monday to close at 8306 points. Gains were led by STMicroelectronics (3.78%), Schneider Electric (2.77%) and Legrand (2.36%). Biggest losers were Edenred (-2.69%), Dassault Systemes (-2.19%) and Michelin (-1.69%).