The CAC 40 hovered near the flatline around 8,409 on Monday, following losses in the previous week as investors remained focused on escalating tensions in the Middle East. US forces struck two Iranian missile launchers on Larak Island in the Strait of Hormuz, while Tehran retaliated with an attack on US forces in Jordan.

President Trump also said Iran’s main oil terminal on Kharg Island was being “blown to smithereens.” Domestically, Fitch Ratings affirmed France’s Long-Term Issuer Default Ratings at ‘A+’ with a Stable Outlook, citing the country’s large and diversified high-income economy, sound banking sector and broad investor base.

The rating is constrained by high and rising public debt, a challenging political and social environment that complicates fiscal consolidation, and weak potential growth. Financial stocks were among the top gainers, including BNP Paribas (0.8%), Crédit Agricole (0.7%) and Société Générale (1.5%). For the month, the CAC 40 is on track to decline.