CAC Up Over 0.5% Despite Paring Some Early Gains
(RTTNews) - French stocks are gaining notable ground in positive territory on Monday amid easing concerns about U.S.-China trade tensions after President Donald Trump softened his stance on a potential 100% tariffs on Chinese goods.
Trump, who previously threatened to slap steep new tariffs on China, said over the weekend that everything would be "fine" and Washington was not looking to "hurt" China.
Meanwhile on the French political front, Prime Minister Sebastien Lecornu, who was reappointed on Friday, unveiled his cabinet amid budget turmoil that is scaring businesses and investors.
The benchmark CAC 40, which advanced to 7,995.49 earlier in the session, was up 41.00 points or 0.52% at 7,959.00 a few minutes ago.
Stellantis is up with a strong gain of 3.7%. STMicroElectronics is gaining 3.2%, while ArcelorMittal and Publicis Groupe are rising 2.35% and 2.15%, respectively.
Kering is climbing up 1.75%, while Hermes International, Legrand and Saint Gobain are up by about 1.5%.
Renault, Euronext, LVMH, Vinci and EssilorLuxottica are also notably higher.
Meanwhile, Thales, Michelin, Danone, Eurofins Scientific, Orange and BNP Paribas are down in negative territory, losing between 0.25 to 0.8%.
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