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Geopolitical Tensions Drag Down CAC 40
(RTTNews) - An escalation in geopolitical tensions in the Middle East triggered by the Israel-Iran conflict weighed on market sentiment dragging down the CAC 40. Concerns about the trade dispute between the U.S. also weighed on sentiment.
The CAC-40 index that tracks the 40 largest French stocks based on the Euronext Paris is currently trading at 7,674.12, slipping 1.2 percent from the previous close of 7,765.11. The day's trading has been between 7,713.68 and 7,660.59.
Amidst the weak sentiment, only 3 scrips are trading above the flatline.
TotalEnergies topped gains with a surge of 1.5 percent. Engie followed with gains of 1.04 percent. Orange also added 0.39 percent.
Accor topped losses with a decline of 3.8 percent. Stellantis, Teleperformance and Saint Gobain have all slipped more than 2 percent. Edenred also declined 1.8 percent.
With the dollar index rallying 0.49 percent and rising to 98.40, the EUR/USD pair has slipped 0.62 percent to 1.1513 percent. The pair ranged between 1.1614 and 1.1504. The EUR/GBP pair is trading flat at 0.8504. The yen's strength however dragged down the EUR/JPY pair 0.10 percent to 166.05.
In alignment with the global trend of hardening, yields on France's ten-year bonds spiked 1.0 percent to 3.218 percent from the level of 3.185 percent at the previous close. Yields ranged between 3.221 percent and 3.161 percent.
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