The CAC 40 index saw a slight increase of 0.2%, reaching 7,780 at the start of trading on Thursday, marking its fourth consecutive session of gains. This momentum builds as investors anticipate the European Central Bank's policy announcement, where interest rates are largely expected to be maintained at their current levels. Market participants are also paying close attention to the United States' Consumer Price Index (CPI) for August, as it may influence the Federal Reserve's decision on the magnitude of a potential rate cut in the upcoming meeting.
In corporate developments, Kering experienced a 2.4% rise after revealing a modification to its agreement with Mayhoola regarding Valentino. The new terms postpone Mayhoola's put options on its remaining 70% share from the period of 2026–2027 to 2028–2029. Likewise, Kering's call option is deferred from 2028 to 2029. This adjustment will maintain their ownership structure as it is until at least 2028, thereby relieving some immediate financial pressure on the heavily indebted Gucci parent company.
