CAC 40 Hits Highest Level in Over 6 Months
The Paris CAC 40 index climbed by 0.6% to reach approximately 8,020, marking its highest point since late March. This boost was largely attributed to robust performance in the semiconductor sector. STMicroelectronics saw a 1.5% increase, following a rally in Wall Street and the announcement that Samsung Electronics and SK Hynix would supply memory chips for OpenAI’s data centers. The healthcare sector continued its upward trend following the US-Pfizer agreement, and automotive stocks benefited from HSBC’s upgraded rating on Ferrari. Stellantis rose sharply by 6.9%, leading the automotive sector, while Renault experienced a modest increase of 1.0%. In other news, EssilorLuxottica gained 0.2% after finalizing its acquisition of Optegra from MidEuropa, and Saint-Gobain increased by 0.3% as it entered exclusive negotiations to sell its Belgian building materials distributor, SFIC Belgium, to Ponsardin Industries. From a macroeconomic perspective, a weaker US labor market report bolstered expectations for a 25-basis-point reduction in interest rates at each of the two remaining Federal Reserve policy meetings scheduled for this year.
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