CAC 40 Extends Losses
CAC 40 falls 0.3% to 8,692.7 on Wednesday
The CAC 40 fell 0.3% to 8,692.7 on Wednesday, extending losses from the previous session as investors remained cautious amid mounting uncertainty over the swift reopening of the Strait of Hormuz.
Concerns about supply disruptions lingered despite comments from Pakistan’s defense minister that the US and Iran were “close to some sort of arrangement” regarding the strategic waterway, while reports also pointed to meaningful progress in talks between Tehran and Oman.
Luxury stocks weighed heavily on the index, with LVMH falling 1.8%, Hermès losing 1.6%, and Kering dropping 2.4%.
The sector remained under pressure as a prolonged slowdown in global luxury demand complicated succession planning at Armani Group, where the proposed sale of an initial 15% stake could reportedly be pushed back beyond March 2027.
In contrast, STMicroelectronics added 0.6%, benefiting from strength across global tech markets.