French stocks experienced a significant uptick on Tuesday, buoyed by a sharp decline in oil prices, which coincided with the optimistic outlook regarding a potential reopening of the Strait of Hormuz in the near future. Investors anticipated U.S. President Donald Trump’s address at the UN General Assembly later in the day. U.N. Ambassador Mike Waltz informed reporters that Trump’s statements would underscore the peace agreements the president has facilitated, U.S. initiatives in the Western Hemisphere, and advancements on his 20-point peace plan in Gaza. It will also address the “importance of ensuring that Iran never has a nuclear weapon,” Waltz stated.
As the Saudi-Houthi conflict continues unabated, Trump is anticipated to convene with Gulf leaders affected by the war with Iran to deliberate on the ongoing situation and concentrate on formulating a postwar strategy. Brent crude futures declined to $97.50 a barrel before recovering slightly to $97.60, reflecting a notable decrease of 2.6%. WTI crude futures declined to $93.64 a barrel, representing a decrease of approximately 2.2%. The benchmark CAC 40 was up 45.10 points or 0.55% at 8,184.04 recently.
- ArcelorMittal experienced an increase of 2.5%. Capgemini, Kering, STMicroelectronics, Accor, Saint-Gobain, Bureau Veritas, Legrand, Safran, and BNP Paribas experienced an increase of 1.5% to 2%.
- Michelin, Eiffage, Dassault Systemes, L’Oreal, Credit Agricole, Danone, Bouygues, Unibail Rodamco, and Airbus exhibited significant upward movement.
- TotalEnergies experienced a decline of 1.7% in response to a significant drop in oil prices.
- Orange declined by 1.6%, while AXA experienced a decrease of approximately 1.4%. Sanofi declined by 0.7%, while Carrefour experienced a slight decrease.
