FX.co ★ CAC 40 Holds Steady in Week’s Final Session

The CAC 40 index teetered around breakeven on Friday, after experiencing a 0.8% increase the day before. This was due to a balance between the declining luxury sector and gains in banking and other premier equities. Notably, Kering fell by 0.7% following its announcement of a phased acquisition strategy for the Italian jeweler Raselli Franco, commencing with a 20% stake valued at €115 million. Additional luxury brands also showed weaker performance with L’Oréal dropping by 0.7%, Hermès by 0.6%, and LVMH by 0.4%. More extensive declines were seen with TP falling 1.1%, Accor 1.0%, and Pernod Ricard 0.9%. Conversely, Renault saw a 1.1% rise after its credit rating was elevated by S&P Global to BBB- from BB+, with a stable outlook. Bank stocks also saw an uptick, with BNP Paribas increasing by 0.9%, Societe Generale by 0.7%, and Credit Agricole by 0.4%. In addition, the Bank of France revised its economic growth forecasts upward, predicting 0.9% growth for 2025, up from 0.7%, and projecting 1% growth for 2026, a rise from 0.9%. This optimistic outlook is attributed to robust performances from the transport and aviation sectors, alongside a projected resurgence in consumer expenditure and investment.