French Stocks Extend Gains
The CAC 40 rose 0.3% to 8,101 on Tuesday, extending gains from the previous session as investors continued to shrug off higher oil prices and the lack of a breakthrough in US-Iran diplomatic talks. While mediators are working with Iran and the US to broker a deal aimed at ending the fighting and reopening the Strait of Hormuz, US President Donald Trump initially said he had rejected an Iranian proposal to reopen the strait within a week. Meanwhile, global bond yields remained at multi-year highs, with France’s 10-year OAT yield recently hitting its highest level since July 2008. On the corporate front, Legrand jumped 6.1% after raising its 2030 targets, citing accelerated growth in data centers and the energy transition alongside improved profitability. Other notable gainers included Schneider Electric (2.3%), STMicroelectronics (2.6%) and Stellantis NV (1.2%).
3% to 8,101 on Tuesday, extending gains from the previous session as investors continued to shrug off higher oil prices and the lack of a breakthrough in US-Iran diplomatic talks. While mediators are working with Iran and the US to broker a deal aimed at ending the fighting and reopening the Strait of Hormuz, US President Donald Trump initially said he had rejected an Iranian proposal to reopen the strait within a week. Meanwhile, global bond yields remained at multi-year highs, with France’s 10-year OAT yield recently hitting its highest level since July 2008.
1% after raising its 2030 targets, citing accelerated growth in data centers and the energy transition alongside improved profitability. 2%).