French Stocks Rebound Ahead of ECB Meeting
The CAC 40 rose 0.8% to close at 7,846 on Monday, recovering last week’s losses as investors awaited the ECB’s policy decision and a busy earnings calendar. The ECB is expected to hold rates steady while leaving a December hike possible. Banks advanced ahead of earnings, with BNP Paribas up 2.4%, Crédit Agricole 1.2% and Société Générale 2.4%. TotalEnergies added 0.4%, while Airbus rose 0.7%, Sanofi and Dassault Systèmes gained 0.5% each, and Renault added 1.3% ahead of their results. Hermès jumped 3.6% after reporting first-half revenue of €8.2 billion, up 6% year over year. LVMH gained 1% and Kering 1.1%. Moody’s affirmed France’s Aa3 sovereign rating but maintained its negative outlook. The decision offered some relief to the government as it faces persistent social unrest and mounting fiscal pressures.
The CAC 40 rose 0.8% to close at 7,846 on Monday, recovering last week’s losses as investors awaited the ECB’s policy decision and a busy earnings calendar. The ECB is expected to hold rates steady while leaving a December hike possible. Banks advanced ahead of earnings, with BNP Paribas up 2.4%, Crédit Agricole 1.2% and Société Générale 2.4%. TotalEnergies added 0.4%, while Airbus rose 0.7%, Sanofi and Dassault Systèmes gained 0.5% each, and Renault added 1.3% ahead of their results.
Hermès jumped 3.6% after reporting first-half revenue of €8.2 billion, up 6% year over year. LVMH gained 1% and Kering 1.1%. Moody’s affirmed France’s Aa3 sovereign rating but maintained its negative outlook. The decision offered some relief to the government as it faces persistent social unrest and mounting fiscal pressures.