French stocks are significantly lower on Monday, reflecting widespread selling driven by escalating tensions in the Middle East and increasing concerns over inflation. Brent crude futures recently traded at $103.25 a barrel, reflecting an increase of 11.5%, following a notable surge that saw prices exceed $119.50 a barrel, marking a peak not observed in nearly four years. Tensions in the Gulf intensified after reports emerged of explosions at Al Udeid Air Base, the largest United States military facility in the Middle East.
Bahrain’s state oil company has invoked force majeure on its shipments following Iranian strikes in the region that ignited the largest oil facility. The benchmark CAC 40, which declined to 7,768.11, marking a low not seen in over five months, was down 150.99 points or 1.89% at 7,842.50 just moments ago.
- Thales, exhibiting a 0.7% increase, stands as the sole stock from the CAC 40 currently trading in positive territory.
- ArcelorMittal is experiencing a decline of nearly 6.5%.
- Unibail Rodamco, Schneider Electric, Michelin, and Societe Generale have experienced declines ranging from 3% to 3.7%.
- Airbus, Accor, Stellantis, Legrand, Veolia Environment, BNP Paribas, Credit Agricole, Bouygues, Eurofins Scientific, and Eiffage are experiencing declines in the range of 2% to 2.7%.
- Orange, STMicroelectronics, Kering, Safran, EssilorLuxottica, Vinci, Air Liquide, Saint-Gobain, L’Oreal, Sanofi, Engie, and Carrefour are experiencing significant declines.