On Friday, the CAC 40 index experienced a decline of 1.0%, closing around 8,100 points and stepping back from the seven-month high of 8,189 observed during the previous session. This drop was primarily fueled by a significant sell-off in banking stocks, with Société Générale falling by 4.4%, BNP Paribas by 3.4%, and Crédit Agricole losing 2.4%. These declines were a result of increasing apprehensions in the broader credit market, following disclosures from two US regional banks regarding loan exposures linked to losses and potential fraud. Adding to the cautious sentiment among investors, ongoing US-China trade tensions showed no signs of resolution. On a brighter note, the French political scene offered some stability, as Prime Minister Sébastien Lecornu successfully overcame two no-confidence votes on Thursday. This outcome provides his newly formed government with a temporary respite ahead of the pivotal 2026 budget debate. In corporate movements, EssilorLuxottica saw a notable 10.0% increase after releasing a robust third-quarter performance, with revenues rising 11.7% year-on-year to reach €6.86 billion. This growth was attributed to strong performances in North America and Europe, alongside enduring momentum in their AI-powered eyewear division.
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