CAC 40 Moderately Higher As Oil's Drop Lifts Sentiment

(RTTNews) - French stocks gained ground in positive territory on Friday as weak oil prices helped lift sentiment even as concerns about Middle East tensions lingered.

The benchmark CAC 40, which advanced to 7,924.58, was up 54.36 points or 0.69% at 7,889.67 a little over half an hour past noon.

Oil prices fell reacting to reports that European Union countries are discussing a French proposal to release fuel and crude stockpiles to ease acute market tightness and help avert a potential U.S. diesel export ban.

Brent crude front-month futures fell to $98.92 before recovering to $99.44, still down by about 2.8% from previous close.

Meanwhile, investors continue to follow news from the geopolitical front amid fading hopes of a truce between Iran and the U.S. According to reports, Washington is sending a third aircraft carrier to the Middle East with an additional 10,000 American troops.

Stellantis climbed nearly 4.5% a day after reconfirming its 2026 financial guidance. STMicroelectronics moved up nearly 3%. Legrand, Danone and Schneider Electric gained 2.2%-2.6%. Air Liquide gained a little over 2%.

Airbus, Safran and Accor advanced 1.7%, 1.5% and 1.2%, respectively. Thales gained about 1% after the defense contractor signed a major Air Surveillance Contract with Ireland.

Orange, Saint Gobain, Dassault Systemes and Euronext posted moderate gains.

Sanofi fell 4%. Kering dropped about 2.2% and Credit Agricole eased by 1.5%. BNP Paribas, Societe Generale, Renault and Pernod Ricard lost 0.6%-1%.

Flash estimate from Eurostat showed Eurozone inflation accelerated more than expected in September on energy and food prices, rising 3.8% in the month from 3.2% in August. The rate was forecast to climb to 3.7%.

Excluding energy, food, alcohol and tobacco, core inflation rose marginally to 2.5% from 2.4% in the previous month.