CAC 40 Edges Up

(RTTNews) - Amidst a global market sentiment tethered to trade tensions and AI worries, the CAC 40 benchmark that tracks the 40 largest French stocks based on the Euronext Paris is trading slightly above the flatline.

The U.S. Supreme Court verdict and the blanket tariffs that have followed added to uncertainties over the trade deals reached with the U.S. last year. Sentiment however remains cautious amidst the European Parliament postponing a vote on the US-Europe agreement for a second time.

CAC 40 is currently trading at 8,507.33, rising 0.12 percent from the previous close of 8,497.17. The day's trading ranged between 8,461.88 and 8,509.21.

At current levels, the index has gained 5.1 percent over the past 1 year.

Amidst the muted sentiment, 15 scrips in the 40-stock index are trading below the flatline.

STMicroElectronics, Renault, Stellantis have all gained close to 2 percent. Engie, carrefour and Euronext are trading with overnight gains of around 1.5 percent. Capgemini led losses with a decline of 2.9 percent. Credit Agricole, Societe Generale, BNP Paribas, have all lost more than 1.7 percent as markets worried about AI disrupting traditional business lines.

Amidst the uncertainty surrounding tariffs triggering demand for safe haven assets, yields on treasuries softened globally. In tandem, yields on France's 10-year bonds dropped 0.49 percent to 3.266 percent, versus the level of 3.282 percent at the previous close. Yields ranged between 3.284 percent and 3.265 percent in the day's trading.

With the U.S. Dollar firming up, the 6-currency Dollar Index is currently at 97.87, gaining 0.17 percent from the previous close of 97.71. The EUR/USD pair has edged down 0.03 percent to 1.1781. The pair ranged between 1.1797 and 1.1768. The EUR/GBP pair is trading at 0.8734, dropping 0.05 percent below the flatline. Amidst the yen's weakness, the EUR/JPY pair has jumped 0.69 percent to trade at 183.51.