War Worries Weigh On CAC 40
(RTTNews) - Mounting geopolitical tensions in the Middle East weighed heavily on market sentiment dragging the CAC 40 benchmark lower in the day's trade. The CAC 40 index that tracks the 40 largest French stocks based on the Euronext Paris has shed a little less than a percent in Wednesday's trading.
The CAC-40 is currently trading at 7,593.46, losing 0.82 percent from the previous close of 7,656.12. The day's trading has been between 7,618.76 and 7,584.35.
With renewed war worries, only 3 scrips in the index are trading above the flatline. TotalEnergies rallied 1.5 percent followed by Orange that gained 0.43 percent.
Edenred topped overnight losses with a decline of 3.7 percent whereas Kering declined 3.3 percent.
Shares of Teleperformance, Hermes International, Accor, ArcelorMittal and LVMH declined more than 2 percent.
Safe haven demand lifted the Dollar helping the Dollar Index edge up 0.07 percent to 98.95. Amidst the dollar's strength, the EUR/USD pair has slipped 0.04 percent to 1.1479 percent. The pair ranged between 1.1489 and 1.1446. The EUR/GBP pair has edged down 0.01 percent to 0.8543. The EUR/JPY pair has rallied 0.34 percent to 167.19.
With bond yields hardening across regions, yields on France's ten-year bonds jumped 1.21 percent to 3.258 percent from the level of 3.219 percent at the previous close. Yields ranged between 3.273 percent and 3.216 percent.
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