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FX.co ★ CAC 40 Rallies After Israel's Calibrated Attack On Iran

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typeContent_19130:::2024-10-28T10:02:00

CAC 40 Rallies After Israel's Calibrated Attack On Iran

French stocks experienced a surge on Monday following Israel's extensive airstrikes against Iran early Saturday, which came as a response to the Islamic Republic's ballistic missile assault on Israel on October 1.

Reports have not confirmed any damage to oil or nuclear facilities.

In response to the weekend's attacks targeting military sites, Tehran announced it plans to "utilize all available tools."

The CAC 40, a key French stock market index, rose by 72 points, or almost 1%, reaching 7,569, recovering from minor losses at the end of Friday's trading session.

In corporate developments, Eurofins Scientific SE saw an increase of 1.3%. The company, specializing in bio-analytical testing, reported it has reached an agreement to purchase Synlab's clinical diagnostics operations in Spain for an unspecified sum.

Conversely, TotalEnergies saw a decline of 1.1% as oil prices fell to a four-week low due to diminished concerns about a potential conflict in the Middle East.

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