FX.co ★ CAC 40 Gains on Market-Boosting News

On Wednesday, the Paris CAC 40 index increased by 0.2%, reaching approximately 7,920, as it bounced back from earlier downturns, supported by notable advancements in healthcare and steel sectors. The pharmaceutical industry received a significant boost following an agreement between Pfizer and the Trump administration, enabling patients to acquire prescription medications at reduced prices via a new federal website. This development led to a 4.2% rise in Sanofi shares and a 1.6% uplift for Eurofins Scientific. Concurrently, the European Commission unveiled plans to significantly reduce steel import quotas by nearly half and to enforce tariffs of up to 50% on any imports surpassing these quotas. This measure aims to mitigate the issue of surplus steel production, particularly in China, and shield the European steel sector from the impacts of underpriced imports. In light of this, ArcelorMittal saw its shares jump by 5.4%. From a macroeconomic perspective, the Eurozone's inflation data aligned with forecasts, showing a rate slightly exceeding the 2% benchmark. This development further solidified market expectations that the European Central Bank would maintain steady interest rates.