French Stocks Rise for a Third Session

The CAC 40 rose 0.7% to 8,333 on Wednesday, its highest level since August 31, extending gains for a third straight session as AI-related stocks rallied after upbeat outlooks from CoreWeave and Siemens Energy. Trading was subdued with France on a public holiday and no domestic data or earnings due. STMicroelectronics jumped 5.3%, Schneider Electric gained 3.1%, Legrand 2.1% and Capgemini 0.5%. TotalEnergies rose 1.3% as Brent crude rebounded above $93 after fresh attacks on shipping near the Strait of Hormuz. In contrast, EssilorLuxottica fell 2.4%, Unibail-Rodamco-Westfield 1.8% and Thales 1.1%. Meanwhile, investors weighed bets on a Fed rate hike in December.

The CAC 40 rose 0.7% to 8,339 on Wednesday, extending its winning streak to a third consecutive session and reaching its highest level since September. The rally reflected broader strength across global equities, fueled by a surge in technology stocks following CoreWeave’s upbeat outlook, which helped assuage fears surrounding an AI market bubble, as well as growing anticipation for Anthropic PBC’s planned IPO. Sentiment was further buoyed by cooling geopolitical tensions after US Secretary of State Marco Rubio told a G7 gathering in Paris that Washington saw "no need for major combat operations" in Iran. Semiconductor maker STMicroelectronics spearheaded market gains with a 4.1% jump, alongside strong performances from Schneider Electric (2.4%), Legrand (2.1%), and TotalEnergies (1.2%). In contrast, Essilor (-1.8%), ENGIE (-0.2%), and Danone (-0.2%) were among the few decliners.

The CAC 40 Index went up by 65 points or 0.79 percent on Tuesday to close at 8299 points. The rise was led by Edenred (5.90%), ArcelorMittal (2.96%) and Accor (2.74%). On the downside, the weakerst performers were Stellantis NV (-3.29%), Dassault Systemes (-1.63%) and Essilor (-1.39%).