CAC 40 Adds To Losses Amidst Fresh Middle East Tensions

RTTNews | 126 days ago
CAC 40 Adds To Losses Amidst Fresh Middle East Tensions

(RTTNews) - Fresh attacks between the U.S. and Iran rattled investor sentiment on Friday, dragging down the CAC 40 benchmark further. The spike in crude oil prices that followed also rattled sentiment.

The CAC 40 index that tracks the 40 largest French stocks based on the Euronext Paris is currently trading at 8,138.08, slipping 0.78 percent from the previous close of 8,202.08. The day's trading ranged between 8,122.91 and 8,158.93.

At current levels, the index has gained 5.8 percent over the past 1 year.

Amidst the weak sentiment, only 8 scrips in the 40-stock index are trading above the flatline.

Stellantis topped gains with a surge of 1.6 percent. Dassault Systemes followed with gains of 0.6 percent.

Thales led losses with a decline of 2.3 percent. BNP Paribas also shed more than 2 percent. EssilorLuxottica, Hermes International, Eiffage, Bouygues as well as Vinci have also lost more than 1.5 percent.

Amidst a rebound in crude oil prices and fresh uncertainty surrounding the Middle East peace efforts, bond yields are trading in a mixed fashion. France's 10-year bond yields have rallied 0.14 percent on Friday to 3.627 percent, versus the level of 3.622 percent at close on Thursday. Yields ranged between 3.651 percent and 3.617 percent in the day's trading.

The dollar's decline, despite renewed tensions in the Middle East have dragged down the 6-currency Dollar Index 0.11 percent to 97.96. The index was at 98.07 a day earlier. The EUR/USD pair has in the meanwhile rallied 0.41 percent to 1.1771. The pair ranged between 1.1774 and 1.1723. The EUR/GBP pair is trading 0.08 percent lower at 0.8644. The EUR/JPY pair has also rallied 0.24 percent to trade at 184.42.

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