CAC 40 Rises as Luxury Stocks Rebound
The CAC 40 rose 0.6% to close at 7,783 on Wednesday, rebounding from the previous session’s losses, supported by gains in luxury and industrial stocks. Luxury shares recovered after falling in the previous session amid weak results from LVMH, which cited softer Chinese demand. Hermes rose 0.9%, LVMH added 1.4%, and Kering gained 1.5%. The rebound followed Chinese foreign trade data showing that imports climbed 31% year-on-year to a record high in September, supported by seasonal restocking ahead of the major October Golden Week holiday. In the industrial sector, defense-related stocks led gains amid ongoing conflicts in the Middle East, with Airbus rising 2% and Thales gaining 1.8%. Meanwhile, ECB President Christine Lagarde played down speculation about intervention in France’s budget crisis, saying that solutions to the country’s precarious fiscal situation would need to come from domestic policymakers. Financial stocks closed lower.
6% to close at 7,783 on Wednesday, rebounding from the previous session’s losses, supported by gains in luxury and industrial stocks. Luxury shares recovered after falling in the previous session amid weak results from LVMH, which cited softer Chinese demand. 5%. The rebound followed Chinese foreign trade data showing that imports climbed 31% year-on-year to a record high in September, supported by seasonal restocking ahead of the major October Golden Week holiday.
8%. Meanwhile, ECB President Christine Lagarde played down speculation about intervention in France’s budget crisis, saying that solutions to the country’s precarious fiscal situation would need to come from domestic policymakers. Financial stocks closed lower.