The CAC 40 declined by 0.3% to 8,692.7 on Wednesday, continuing its downward trend from the prior session as investors exhibited caution in light of increasing uncertainty regarding the rapid reopening of the Strait of Hormuz. Concerns regarding supply disruptions persisted, notwithstanding remarks from Pakistan’s defence minister indicating that the US and Iran were “close to some sort of arrangement” concerning the strategic waterway.

Additionally, reports suggested significant advancements in discussions between Tehran and Oman. Luxury stocks exerted significant pressure on the index, as LVMH declined by 1.8%, Hermès experienced a decrease of 1.6%, and Kering saw a drop of 2.4%.

The sector continued to face challenges as a sustained decline in global luxury demand complicated succession planning at Armani Group, where the anticipated sale of an initial 15% stake may be delayed beyond March 2027. In contrast, STMicroelectronics experienced a gain of 0.6%, reflecting the robust performance observed across global technology markets.