CAC 40 Rises on Luxury and Industial Gains
The CAC 40 rose 0.8% to close at 7,935 on Thursday, supported by gains in luxury and industrial stocks. Luxury shares rebounded after Chinese trade data showed imports rising 31% year-on-year in September to a record high, suggesting that Chinese consumer demand has not collapsed, contrary to concerns raised by LVMH’s recent results. LVMH rose 2.2%, Hermès gained 3.3%, Kering added 1.3%, and L’Oréal advanced 3.2%. Industrial stocks also gained, with defense contractors leading as the conflict in the Middle East showed no sign of easing. Airbus rose 2.4%, while Thales gained 1.3%. In contrast, Schneider Electric fell 2.4% and STMicroelectronics dropped 3.8%, tracking a selloff in US semiconductor stocks. Financial stocks were mostly lower after French annual inflation rose to 3.4% in September on an EU-harmonized basis, its highest level since January 2024. BNP Paribas fell 0.7%, while Crédit Agricole lost 1%.
The CAC 40 rose 0.8% to close at 7,935 on Thursday, supported by gains in luxury and industrial stocks. Luxury shares rebounded after Chinese trade data showed imports rising 31% year-on-year in September to a record high, suggesting that Chinese consumer demand has not collapsed, contrary to concerns raised by LVMH’s recent results. LVMH rose 2.2%, Hermès gained 3.3%, Kering added 1.3%, and L’Oréal advanced 3.2%. Industrial stocks also gained, with defense contractors leading as the conflict in the Middle East showed no sign of easing.
Airbus rose 2.4%, while Thales gained 1.3%. In contrast, Schneider Electric fell 2.4% and STMicroelectronics dropped 3.8%, tracking a selloff in US semiconductor stocks. Financial stocks were mostly lower after French annual inflation rose to 3.4% in September on an EU-harmonized basis, its highest level since January 2024. BNP Paribas fell 0.7%, while Crédit Agricole lost 1%.