Geopolitical Tensions Push French Stocks Lower For 8th Day
(RTTNews) - French stocks shed ground on Thursday, extending losses to an eighth successive session, as the collapse of peace talks between Iran and the U.S. pushed up oil prices sharply.
Brent crude futures moved about $84 a barrel, after U.S. President Donald Trump sharpened his rhetoric against Tehran, warning of economic consequences against any country that provided "any type of lifeline to Iran."
Trump escalated economic pressure on Iran, describing it as the 'most crushing economic operation' ever imposed on a country.
Asked about the Iran war, Trump reiterated that the U.S. has "complete control" of the Strait of Hormuz and that the talks could resume "maybe at some point."
Iran's Foreign Minister Abbas Araghchi said Trump's "doubling down on failed policies will only bring further defeat" to the U.S.
The benchmark CAC 40 was down 34.75 points or 0.41% at 8,467.16 about half an hour past noon.
Stellantis lost 2.5%. Kering, LVMH and EssilorLuxottica shed 1.7%, 1.6% and 1.5%, respectively. AXA drifted lower by about 1.25% and Renault eased by 1.2%.
ArcelorMittal, Hermes International, Air Liquide, Capgemini, Societe Generale, Saint-Gobain, BNP Paribas, Thales and Dassault Systemes fell 0.5%-1%.
Among the gainers, Eurofins Scientific moved up 2.1%. Michelin advanced 1.7% and TotalEnergies climbed 1.3%. Unibail Rodamco, Legrand, Engie and Publicis Groupe added 0.4%-0.5%.
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