French Stocks Extend Fall to Over 6-Month Low
The CAC 40 fell 1.1% to 7,687 on Thursday, extending losses from the previous session and hitting its lowest level since March as escalating Middle East tensions weighed on risk sentiment. Reports that the White House had asked the Pentagon to prepare strike options against Iran ahead of the midterm elections lifted oil prices and pushed bond yields higher. Bank of France Governor and ECB Governing Council member Emmanuel Moulin warned that the Middle East crisis is affecting economies globally through its impact on inflation and bond markets. His comments came as investors remained wary on France’s fiscal challenges, including efforts to pass a budget and reduce the country's large deficit. Most stocks traded lower, led by L’Oréal (-1.0%), LVMH (-1.1%), Airbus (-1.5%), and Safran (-2.2%). Financial stocks also remained under pressure, particularly BNP Paribas (-2.3%), Crédit Agricole (-1.6%), and Société Générale (-2.9%).
1% to 7,687 on Thursday, extending losses from the previous session and hitting its lowest level since March as escalating Middle East tensions weighed on risk sentiment. Reports that the White House had asked the Pentagon to prepare strike options against Iran ahead of the midterm elections lifted oil prices and pushed bond yields higher. Bank of France Governor and ECB Governing Council member Emmanuel Moulin warned that the Middle East crisis is affecting economies globally through its impact on inflation and bond markets.
His comments came as investors remained wary on France’s fiscal challenges, including efforts to pass a budget and reduce the country's large deficit. 2%). 9%).