The CAC 40 reversed modest early gains to finish Tuesday down about 1.1% at 8,236, its lowest level in more than a week, as markets weighed uncertainty over US–Iran negotiations ahead of a ceasefire deadline. President Trump told CNBC he expects a “fantastic deal” with Iran, asserting the country has “no other choice,” while stressing he will not extend the two-week truce following more than a month of conflict. Meanwhile, shipping traffic through the Strait of Hormuz remains largely at a standstill.
In terms of individual stocks, Safran fell nearly 7%, leading the declines after Jefferies cut its rating to “hold” from “buy.” Thales was close behind, shedding almost 6%, despite better-than-expected sales, as investors focused on weakness in its cybersecurity division and a cautious near-term outlook. By contrast, STMicroelectronics added 0.9%, and TotalEnergies rose 0.8%, supported by higher oil prices.
