CAC 40 Set to Extend Winning Streak
The CAC 40 advanced 0.2% to above 8,000 on Thursday, extending its winning streak to a fourth consecutive session and reaching its highest level since late August. European equities were boosted by strong corporate earnings and a rotation away from AI-linked stocks in Asia and the US following the resignation of Nvidia's cofounder Jensen Huang as CEO amid allegations regarding his ties to a suspected Chinese spy. Investors moved into defensive stocks, including European healthcare and consumer sectors. Sanofi rose over 1.5%, while luxury shares gained, with LVMH and Hermes up nearly 0.5% each. TotalEnergies added over 1% after a sharp Q3 cash-flow increase. In contrast, defense stocks declined on hopes for advancing Middle East peace negotiations; Airbus dropped more than 1.5% and Thales shed over 1%. Tech stocks also fell, tracking Wall Street amid the Nvidia turmoil, with STMicroelectronics losing over 1%.
The CAC 40 advanced 0.2% to above 8,000 on Thursday, extending its winning streak to a fourth consecutive session and reaching its highest level since late August. European equities were boosted by strong corporate earnings and a rotation away from AI-linked stocks in Asia and the US following the resignation of Nvidia's cofounder Jensen Huang as CEO amid allegations regarding his ties to a suspected Chinese spy. Investors moved into defensive stocks, including European healthcare and consumer sectors. Sanofi rose over 1.5%, while luxury shares gained, with LVMH and Hermes up nearly 0.5% each.
TotalEnergies added over 1% after a sharp Q3 cash-flow increase. In contrast, defense stocks declined on hopes for advancing Middle East peace negotiations; Airbus dropped more than 1.5% and Thales shed over 1%. Tech stocks also fell, tracking Wall Street amid the Nvidia turmoil, with STMicroelectronics losing over 1%.