The CAC 40 Index Closes 0.62% Higher

The CAC 40 Index gained 49 points or 0.62 percent on Friday to close at 7884 points. Gains were led by STMicroelectronics (6.29%), Legrand (3.29%) and Schneider Electric (3.21%). Biggest losers were Sanofi (-3.28%), Kering (-3.24%) and Capgemini (-2.85%).

The CAC 40 rose 0.8% to close at 7,897 on Friday as the oil rally stalled, easing concerns over energy-driven inflation and pushing bond yields lower. Softer-than-expected US payrolls also supported rate-sensitive stocks amid reduced expectations of a Fed rate hike this month. The US economy added 29,000 jobs in September, well below forecasts for 90,000 and down sharply from 133,000 in August. Financials were mostly higher, with BNP Paribas up 0.6%. Industrial stocks also gained, with Airbus and Safran adding 2% and 0.9%, respectively. STMicroelectronics jumped 6.5% and Schneider Electric rose 3.5%, tracking gains among US chipmakers. In contrast, pharmaceutical stocks posted losses, with Sanofi down 3.1% and EssilorLuxottica shedding 1.2%. Meanwhile, Sumitomo Mitsui DS Asset Management sold its holdings of French government bonds, citing concerns over the country’s fiscal trajectory. The French government recently unveiled plans to sharply reduce the budget deficit.

The CAC 40 edged up 0.2% to 7,854 on Friday but remained on track for a notable weekly loss as investors continued to grapple with uncertainties surrounding France’s fiscal outlook. Sumitomo Mitsui DS Asset Management sold its entire holdings of French government bonds, citing concerns over the country’s fiscal trajectory and underscoring growing investor unease over France’s debt burden. The French government recently unveiled plans to sharply reduce the budget deficit, with ministers detailing a €54 billion ($61.2 billion) fiscal effort to rein in spending and bring the deficit down to 5% of economic output in 2027 from 5.4% this year. Notable gainers included Schneider Electric (+1.7%), Danone (+3.0%) and Legrand (+2.0%). In contrast, Sanofi (-3.9%), Kering (-1.7%) and BNP Paribas (-0.6%) declined.