CAC 40 Pares Early Gains, Up Marginally
(RTTNews) - After moving higher early on in the session, France's equity benchmark CAC 40 retreated Thursday morning with investors turning a bit cautious amid concerns some major central banks, including the Federal Reserve will hike interest rates this year. The positive start
(RTTNews) - After moving higher early on in the session, France's equity benchmark CAC 40 retreated Thursday morning with investors turning a bit cautious amid concerns some major central banks, including the Federal Reserve will hike interest rates this year.
The positive start as geopolitical tensions eased following Iran and the U.S. signing an interim peace agreement, that includes the reopening of the Strait of Hormuz, a $300 million reconstruction program for Iran and the removal of all US sanctions.
The CAC 40, which advanced to 8,471.71 earlier, was up 8.14 points or 0.1% at 8,438.93 about half an hour past noon.
Legrand moved up 2.75% and Airbus climbed 2.5%. Schneider Electric, Safran and Kering gained 2.2%, 2.1% and 2%, respectively.
Accor gained nearly 1%, while Hermes International, Publicis Groupe, STMicroelectronics, EssilorLuxottica and Societe Generale posted modest gains.
Carrefour tumbled 6.6% following JP Morgan placing the stock on negative catalyst watch and lower its price target. The retail firm is scheduled to announce its first-half results on July 23.
Stellantis drifted down nearly 3%, while Sanofi, ArcelorMittal, Renault, TotalEnergies, Unibail Rodamco and Danone lost 1.3%-2%.
Renault lost about 2% after acquiring full ownership of Flexis.
