French Stocks Kick Off the Week Higher

The CAC 40 rose 0.6% to 7,864 on Monday, recovering from losses in the previous week following US President Donald Trump’s remarks on an “energy ceasefire.” Oil prices fell after Trump said Russia and Ukraine had agreed to an immediate ceasefire targeting energy infrastructure, while Ukrainian President Volodymyr Zelenskyy said Kyiv supports the truce but is “awaiting details.” However, lingering concerns over escalating tensions in the Middle East continued to temper risk appetite after a deadly attack on Riyadh’s airport prompted Trump to consider joining Saudi Arabia in retaliatory action against Houthi militants in Yemen. On the corporate front, LVMH rose 0.9% ahead of its quarterly earnings report, while Hermès and Kering each gained 1.6%. Financial stocks also advanced, led by Société Générale (1.6%) and BNP Paribas (1%).