CAC 40 Modestly Higher As Oil Prices, Bond Yields Drop
(RTTNews) - France's equity benchmark CAC 40 was modestly higher a little past noon on Friday as stocks gained some ground in positive territory amid easing geopolitical tensions after U.S. President Donald Trump said the U.S. will not attack Iran before the midterm elections next month and added that discussions with Tehran "remain productive."
Lower bond yields and crude oil prices also helped underpin sentiment.
Brent crude front-month futures fell to $102.33 a barrel before recovering to $102.95, still down 1.3% from previous close. The yield on France's 10-year Government Bond dropped to 4.797% this morning before recovering to 4.827%, still trailing previous close of 4.885%.
The CAC 40, which advanced to 7,806.52 earlier, was up 44.59 points or 0.58% at 7,774.28 a little over half an hour past noon.
ArcelorMittal surged 5.7%. Capgemini moved up nearly 4% and Bureau Veritas climbed 3.1%. EssilorLuxottica and Publicis Groupe gained 2.7% and 2.4%, respectively.
Renault, Kering, Hermes International, Stellantis, Euronext, Dassault Systemes and Safran gained 1.5%-2%. Schneider Electric, Sanofi, Unibail Rodamco, Societe Generale, Credit Agricole, Air Liquide, Eurofins Scientific and L'Oreal also posted strong gains.
Orange drifted lower by about 2.5%. Carrefour, Danone, Bouygues, STMicroelectronics and TotalEnergies shed 0.3%-1%.
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