France’s equity benchmark CAC 40 experienced a decline on Monday, influenced by the prevailing uncertainty surrounding the tenuous ceasefire between the U.S. and Iran. Additionally, apprehensions regarding interest rates, exacerbated by rising oil prices, contributed to a cautious market sentiment. Investors are also concentrating on the Sintra Forum, an annual event organised by the ECB that centers on central banking. Following a resurgence of hostilities, the United States and Iran have reached an agreement to cease military strikes against one another and are scheduled to convene on Tuesday in Doha, Qatar, to address their disagreements regarding shipping routes and transit fees.
Meanwhile, Hezbollah’s leader on Saturday condemned the Israel-Lebanon framework agreement as ‘null and void’ and cautioned that its implementation would lead to civil war. The Sintra Forum, taking place from today through Wednesday (June 29-July 1), convenes central bank governors, academics, financial market representatives, journalists, and other stakeholders to engage in discussions on contemporary policy issues and to explore the Forum’s central theme from a long-term viewpoint.
The CAC 40 experienced a decline of 30.30 points, reflecting a decrease of 0.36%, settling at 8,354.57 recently.
- EssilorLuxottica, Vinci, Bouygues, Eiffage, and Saint-Gobain experienced declines ranging from 2.1% to 2.8%.
- Eurofins Scientific, Renault, Airbus, Unibail Rodamco, and LVMH experienced a decline ranging from 1% to 1.7%.
- Michelin, Veolia Environment, Air Liquide, Accor, Credit Agricole, and Orange experienced declines ranging from 0.6% to 0.8%.
- STMicroelectronics experienced an increase of 3.6%.
- Publicis Groupe experienced an increase of 1.1%, while Dassault Systemes saw a rise of 1%. Thales, Bureau Veritas, Capgemini, and AXA recorded slight increases.
- Shares of biotech firm Ispen increased by 1.7% following the company’s agreement to acquire U.S. biotech Kartos Therapeutics in a transaction valued at up to $1.75 billion.