CAC 40 Gives Up Gains as Oil Stocks Drag Index Lower

CAC Futures Updates

France’s equity benchmark CAC 40 reduced its early gains and dipped just below the flat line Friday afternoon, even in the context of declining oil prices and lower bond yields, as optimism grew regarding a possible reopening of the Strait of Hormuz. Brent crude futures for the front-month contract declined to a low of $104.51 a barrel before recovering slightly to $105.24, reflecting a decrease of 1.4% from the prior close.

Reports indicate that the Washington Post has cited Iranian Foreign Minister Abbas Araghchi, who stated on the sidelines of the UN General Assembly session in New York that Iran has presented a proposal to U.S. officials via mediators this week aimed at concluding the Middle East conflict. Despite differences over Iran, Taiwan and trade, Trump described the meeting as “great” and hailed the “truly great friendship” he has forged with his counterpart. China’s Ministry of Foreign Affairs described Xi’s visit to the U.S. as a “great visit.”

The benchmark CAC 40, which advanced to 8,136.29 earlier, was down 6.20 points or 0.08% at 8,075.23 nearly an hour past noon. Societe Generale experienced an increase of 4%.

  • ArcelorMittal saw a rise of 2.3%, whereas STMicroelectronics, Accor, Schneider Electric, Legrand, Eiffage, Credit Agricole, Renault, BNP Paribas, and Vinci all recorded gains ranging from 1.1% to 2%.
  • Saint Gobain, Kering, Veolia Environment, Bouygues, Michelin, Carrefour, Stellantis, Safran, and Bureau Veritas experienced slight upward movements.
  • Airbus experienced a decline of approximately 2.7%. TotalEnergies experienced a decline of 1.6%, impacted by subdued oil prices.
  • Thales and Sanofi experienced declines of 1.4% and 1%, respectively, whereas Pernod Ricard, Danone, and Publicis Groupe recorded modest losses.

Data indicated that private payroll employment in France experienced a decline of 0.1% quarter-on-quarter, translating to a loss of 24,300 jobs, bringing the total to 21 million in the second quarter of 2026. This aligns with preliminary estimates and follows a revised flat reading in the preceding period. In comparison to the previous year, private employment experienced a decrease of 0.4%, representing the sixth consecutive quarter of year-on-year decline. Nonetheless, it remains 5.1% higher, equating to an increase of 1 million jobs, compared to its pre-pandemic level.