CAC 40 Rebounds as Tech Fears Ease and Oil Slides
The CAC 40 rose 1.2% to close at 8,233 on Monday, rebounding from Friday’s decline as fears over the tech-led sell-off eased and oil prices fell. Industrials were sharply higher as Airbus jumped 4.7%, while Safran, ArcelorMittal and Legrand gained 3.5%, 3.9% and 3.8%. Sanofi added 2.6% after BNP Paribas upgraded it to outperform. Société Générale rose 2.4%, while Crédit Agricole ended little changed after proposing to merge its Italian unit with Banco BPM. In contrast, LVMH lost 1.8% and Hermès fell 0.7% after Morgan Stanley cut price targets on major luxury stocks and soft Chinese consumer prices indicated continued weakness in luxury’s largest market. Oil prices dropped more than 3% as US President Trump was set to meet Qatar’s prime minister on efforts to end the Iran war, supporting broader shares but pressuring TotalEnergies to a 1.1% drop.
The CAC 40 rose 1.2% to close at 8,233 on Monday, rebounding from Friday’s decline as fears over the tech-led sell-off eased and oil prices fell. Industrials were sharply higher as Airbus jumped 4.7%, while Safran, ArcelorMittal and Legrand gained 3.5%, 3.9% and 3.8%. Sanofi added 2.6% after BNP Paribas upgraded it to outperform. Société Générale rose 2.4%, while Crédit Agricole ended little changed after proposing to merge its Italian unit with Banco BPM.
In contrast, LVMH lost 1.8% and Hermès fell 0.7% after Morgan Stanley cut price targets on major luxury stocks and soft Chinese consumer prices indicated continued weakness in luxury’s largest market. Oil prices dropped more than 3% as US President Trump was set to meet Qatar’s prime minister on efforts to end the Iran war, supporting broader shares but pressuring TotalEnergies to a 1.1% drop.