French Stocks Hit Near 2-Month Low
The CAC 40 climbed 1.2% to 8,279 on Thursday, extending gains from the previous session and reaching its highest level in nearly two months. The advance mirrored gains across European markets, as a Democratic sweep of the US Congress fueled a broad-based recovery in global equities, alongside growing optimism over a potential peace agreement between the US and Iran. Sentiment was further supported by a rotation out of technology stocks and into other sectors, with the Democrats' electoral victory raising concerns about potential regulatory pressures on chipmakers. On the domestic front, industrial production fell 0.5% month-on-month in September 2026, extending the previous month's 0.4% decline and defying expectations of a 0.3% rebound. Luxury stocks led the advance, with LVMH rising 3.3%, Hermes gaining 3.4% and Kering adding 1.1%. Conversely, TotalEnergies (-2.5%), STMicroelectronics (-1.8%), Dassault Aviation (-1%) and Thales (-0.9%) underperformed.
The CAC 40 climbed 1.2% to 8,279 on Thursday, extending gains from the previous session and reaching its highest level in nearly two months. The advance mirrored gains across European markets, as a Democratic sweep of the US Congress fueled a broad-based recovery in global equities, alongside growing optimism over a potential peace agreement between the US and Iran. Sentiment was further supported by a rotation out of technology stocks and into other sectors, with the Democrats' electoral victory raising concerns about potential regulatory pressures on chipmakers.
On the domestic front, industrial production fell 0.5% month-on-month in September 2026, extending the previous month's 0.4% decline and defying expectations of a 0.3% rebound. Luxury stocks led the advance, with LVMH rising 3.3%, Hermes gaining 3.4% and Kering adding 1.1%. Conversely, TotalEnergies (-2.5%), STMicroelectronics (-1.8%), Dassault Aviation (-1%) and Thales (-0.9%) underperformed.