CAC 40 rises 0.3% on Hormuz reopening hopes
The CAC 40 climbed 0.3% to close at 8,462 on Wednesday as hopes grew for Strait of Hormuz reopening following Iran’s resumed talks with Oman; credit-sensitive and luxury stocks were mixed.
The CAC 40 climbed 0.3% to close at 8,462 on Wednesday amid increasing hopes for the reopening of the Strait of Hormuz.
Oil prices eased after Iran said it had resumed discussions with Oman on managing traffic through the waterway, following heightened economic pressure from the US.
Credit-sensitive sectors were mixed as energy costs remained elevated and uncertainty over US-Iran peace prospects persisted.
BNP Paribas added 1.2%, while Société Générale shed 0.3%.
Luxury stocks were also mixed amid geopolitical risks and ahead of Fitch’s rating review of France on August 28th.
LVMH gained 0.7% and Kering rose 2.2%, while L’Oreal shed 0.3% and Hermes lost 0.6%.
Industrials were mostly higher, with Schneider Electric up 1%, Airbus rising 0.6% and Safran adding 1.9%.
Pernod Ricard (+0.6%) will release its full-year FY26 sales and results report on Thursday.
TotalEnergies shed 0.5% on lower oil prices.