CAC 40 Rebounds on Easing Inflation Fears
The CAC 40 rose 0.9% to 8,139 on Monday, recovering from losses the previous week as the continued decline in oil prices eased concerns over inflationary pressures. Energy-driven inflation fears eased amid renewed efforts to reduce tensions in the Middle East and reopen the Strait of Hormuz, after Tehran conveyed conditions to the US through diplomatic mediators for ending the war. Global bond yields moved lower. Banking stocks posted gains, with Societe Generale up 1.8%. Luxury stocks also advanced amid lower risk aversion, with L’Oreal rising 2.1% and Hermes up 0.9%. Industrial stocks were mostly higher, with Safran rising 2.4% and Air Liquide up 1.3%. Schneider Electric jumped 3.2% and STMicroelectronics added 2.7% as US chipmakers posted sharp gains. In contrast, TotalEnergies lost 1% on the oil pullback.
Story updates
9% to 8,139 on Monday, recovering from losses the previous week as the continued decline in oil prices eased concerns over inflationary pressures. Energy-driven inflation fears eased amid renewed efforts to reduce tensions in the Middle East and reopen the Strait of Hormuz, after Tehran conveyed conditions to the US through diplomatic mediators for ending the war. Global bond yields moved lower. 8%.
9%. 3%. 7% as US chipmakers posted sharp gains. In contrast, TotalEnergies lost 1% on the oil pullback.