The CAC 40 index rose by 0.3% to 8,046 on Wednesday, reflecting a generally upbeat sentiment throughout European markets in the wake of the midterm elections in the United States. This represented a rebound from losses that occurred in the previous session. The overwhelming success of the Democrats was a reflection of voter frustration with economic difficulties and the situation in Iran. It also raised concerns that the Trump administration may be subject to tighter limits on its plans about taxes and spending.
Nevertheless, concerns regarding earnings from artificial intelligence infrastructure continued to exist, and freshly elected MPs voiced resistance to the building of data centers. The Composite Purchasing Managers’ Index dipped to 46.6 in October from 51.1 in September, while the Services PMI fell to 46.2 from 51.2. These figures were the final estimates for the domestic market.
BNP Paribas (2.3%), Crédit Agricole (2.0%), and Société Générale (3.4%) contributed significantly to the rise in the value of banking stocks, which led the overall increase. Alternatively, Thales (-3.7%), Dassault Systèmes (-2.1%), EssilorLuxottica (-1.6%), and L’Oréal (-0.3%) fell behind in terms of market share.
