CAC 40 Moderately Higher Despite Political Uncertainty
(RTTNews) - Despite political uncertainty, the French market is up firmly in positive territory on Wednesday, supported by gains in steel stocks after the European Union proposed to lower shipment quotas for tariff-free steel imports into the bloc, and hike tariffs on volumes that are above the proposed limits.
Auto stocks are weak, weighed down by German auto major BMW lowering its revenue forecast, citing U.S. tariffs and weaker-than-expected growth in the Chinese market.
The benchmark CAC 40 was up 49.94 points or 0.63% at 8,024.79 a few minutes ago.
ArcelorMittal is rising 2.8%. Kering, Hermes International, Societe Generale, LVMH, Kering, Legrand and schneider Electric are gaining 1.3 to 1.5%.
AXA, Safran, Euronext, Thales, Airbus, Accor, EssilorLuxottica and Credit Agricole are also notably higher.
Among the losers, Renault is down by about 2.3%. STMicroElectronics, Capgemini, Saint Gobain, Sanofi, Michelin and Stellantis are down 0.5 to 1%.
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