The CAC 40 Index Opens 0.68% Lower

The CAC 40 index dropped nearly 1% to below 8,050 on Tuesday, extending losses from the previous session to hit a four-month low, as rising oil prices and global bond yields weighed on sentiment. Oil prices continued to climb, with Brent crude rising above $107 per barrel after attacks on Saudi energy infrastructure, raising inflation concerns and expectations for further rate hikes. Higher yields further weighed on equities after the US 10-year Treasury yield reached 5%. Locally, France’s final inflation readings showed annual consumer prices accelerated to 2.4% in August from 2.1% in July, reaching a three-month high. Luxury stocks led the downturn, pressured by weaker Chinese demand and reduced access to the Middle East travel hub. Luxury giants LVMH dropped 2.2%, while Hermes fell 1.3%. In contrast, top gainers were Capgemini (6.6%), Dassault Systemes (5%) and TP (4.1%).

The CAC 40 Index is falling 55 points. Losses were driven by Societe Generale (-2.30%), BNP Paribas (-2.24%) and LVMH (-2.12%). Biggest rises came from Thales (1.80%), Eurofins Scientific SE (0.75%) and Airbus (0.47%).

The CAC 40 Index dropped 67 points or 0.81 percent on Monday to close at 8113 points. Losses were led by Legrand (-6.82%), Schneider Electric (-6.81%) and STMicroelectronics (-6.18%). Offsetting the fall, top gainers were Capgemini (6.61%), Dassault Systemes (4.99%) and TP (4.11%).