CAC 40 falls 0.8% as oil rally resumes
The CAC 40 closed down 0.8% at 8,118 as crude prices surged following Saudi Arabia’s pipeline suspension after drone attacks.
8% to close at 8,118 on Monday, extending losses from the previous week as oil prices surged. The crude rally resumed after Saudi Arabia suspended operations on the East-West crude pipeline following drone attacks. Talks between Iran and several Gulf nations on establishing a temporary shipping corridor through the Strait of Hormuz were postponed. Global yields were mostly higher ahead of the US Fed’s monetary policy decision on Wednesday, with markets expecting a rate hike.
7%. 6%) sank after major AI companies called for a slower pace of development amid growing concerns over safety risks. 1% and Hermès up 1%. TotalEnergies gained 1% on higher oil prices.