French Stocks Rise for 4th Straight Session
The CAC 40 advanced 0.6% to 8,387 on Thursday, extending its winning streak to a fourth consecutive session and reaching its highest level since late August, as retreating oil prices bolstered European equities. Crude prices remained under pressure after the US and Iran avoided further military escalation despite a persistent diplomatic deadlock, easing near-term energy cost concerns. However, broader market sentiment remained guarded following reports that Nvidia board was weighing the removal of CEO Jensen Huang amid allegations of multiple affairs, reigniting concerns over an already fragile AI trade. Most stocks traded in positive territory, led by luxury heavyweights LVMH (1.5%), Hermès (1.2%) and Kering (1.1%), alongside solid gains in AXA (1.4%), Danone (1.2%) and Pernod Ricard (1.1%). Conversely, STMicroelectronics declined 2.5% amid a global semiconductor selloff.
The CAC 40 advanced 0.6% to 8,387 on Thursday, extending its winning streak to a fourth consecutive session and reaching its highest level since late August, as retreating oil prices bolstered European equities. Crude prices remained under pressure after the US and Iran avoided further military escalation despite a persistent diplomatic deadlock, easing near-term energy cost concerns. However, broader market sentiment remained guarded following reports that Nvidia board was weighing the removal of CEO Jensen Huang amid allegations of multiple affairs, reigniting concerns over an already fragile AI trade.
Most stocks traded in positive territory, led by luxury heavyweights LVMH (1.5%), Hermès (1.2%) and Kering (1.1%), alongside solid gains in AXA (1.4%), Danone (1.2%) and Pernod Ricard (1.1%). Conversely, STMicroelectronics declined 2.5% amid a global semiconductor selloff.