The CAC 40 declined by 0.4% to 8,270 on Tuesday, reversing the gains observed in the prior session and reaching its lowest point since July. This movement reflects investor concerns regarding increasing oil prices and inflationary pressures in the context of heightened tensions in the Middle East. Iranian Foreign Ministry spokesman Esmaeil Baghaei indicated that Iran and Oman are nearing the completion of an agreement aimed at creating a secure maritime passage through the Strait of Hormuz.

However, ongoing disruptions to oil shipments persist, exacerbating supply concerns. The European Central Bank now anticipates an increase in borrowing costs by 25 basis points, particularly following the acceleration of eurozone inflation to 3.3% in August, marking its highest level in nearly three years and significantly exceeding the ECB’s target of 2%.

Banking stocks experienced downward pressure, notably BNP Paribas with a decline of 1%, Crédit Agricole falling by 0.8%, and Société Générale decreasing by 2.4%. Other notable laggards included Hermès, which declined by 1.3%, STMicroelectronics with a decrease of 1.6%, and Airbus, which fell by 0.9%.