French Stocks Open Week on Positive Note
The CAC 40 rose 0.3% to 8,160 on Monday, as markets regained some footing following the recent global stock selloff triggered by concerns that a Democratic sweep in the US midterm elections could result in stricter AI regulations. Markets also found support from falling oil prices after US President Trump played down the prospect of further strikes on Iran, while investors assessed a fresh round of corporate updates. Defense stocks were among the top performers, with Airbus (1.4%) and Safran (+1.6%) advancing. Airbus launched a multi-year share buyback program of up to €5 billion through July 2029, while Safran was selected for three French nuclear deterrence programs and secured a contract to supply inertial navigation systems for the country's nuclear deterrent. In contrast, Crédit Agricole fell 1.4% after proposing to merge its Italian business with Banco BPM. Luxury stocks also weighed on the index, with LVMH (-2.1%), Hermès (-1.4%) and Kering (-1.3%) all trading lower.
The CAC 40 rose 0.3% to 8,160 on Monday, as markets regained some footing following the recent global stock selloff triggered by concerns that a Democratic sweep in the US midterm elections could result in stricter AI regulations. Markets also found support from falling oil prices after US President Trump played down the prospect of further strikes on Iran, while investors assessed a fresh round of corporate updates. Defense stocks were among the top performers, with Airbus (1.4%) and Safran (+1.6%) advancing.
Airbus launched a multi-year share buyback program of up to €5 billion through July 2029, while Safran was selected for three French nuclear deterrence programs and secured a contract to supply inertial navigation systems for the country's nuclear deterrent. In contrast, Crédit Agricole fell 1.4% after proposing to merge its Italian business with Banco BPM. Luxury stocks also weighed on the index, with LVMH (-2.1%), Hermès (-1.4%) and Kering (-1.3%) all trading lower.