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CAC 40 Up Sharply On Trump's Tariff Pause Announcement
(RTTNews) - French stocks are high up in positive territory on Thursday with U.S. President Donald Trump's announcement of a 90-day suspension of reciprocal tariffs for most trading partners, excluding China, buoying up sentiment and prompting investors to indulge in hectic buying across the board.
European Commission President Ursula von der Leyen welcomed Trump's move and said the halt on reciprocal tariffs is "an important step towards stabilizing the global economy. Clear, predictable conditions are essential for trade and supply chains to function."
The benchmark CAC 40, which soared about 521 points to 7,384.47 earlier in the session, was up 347.06 points or 5.06% at 7,210.08 a few minutes ago.
Publicis Groupe is soaring nearly 10%. STMicroElectronics is surging 9.5%, while Saint Gobain, Stellantis, BNP Paribas and Societe Generale are up 8 to 9%.
Unibail Rodamco, Safran, ArcelorMittal, Accor, Essilor, Kering, Airbus, AXA, Dassault Systemes, LVMH, Teleperformance, Capgemini, Schneider Electric and Credit Agricole are gaining 5 to 7%.
Veolia Environment, Edenred, Air Liquide, TotalEnergies, Hermes International, Renault, L'Oreal, Vinci, Pernod Ricard, Sanofi, Legrand, Bureau Veritas, Carrefour, Michelin and Bouygues are also up sharply.
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