CAC 40 Pares Early Gains

(RTTNews) - After a firm start, France's equity benchmark CAC 40 pared gains and hovered around the flat line about an hour past noon on Tuesday as investors turned a bit cautious, looking ahead to the earnings season.

Falling oil prices and lower bond yields contributed to the positive start this morning.

Oil prices fell sharply as Russia partially lifted its diesel export restrictions, helping ease supply constraints in global fuel markets.

Brent crude prices fell to $104.40 a barrel, losing about 2%.

According to Reuters, Russia expects to increase diesel exports from 3 million to 3.5 million metric tons per month by the end of 2026, returning to the levels seen before the crisis and potentially exceeding volumes announced by U.S. President Donald Trump.

Russia said EU countries bought $320.7 billion in hydrocarbons since 2022 despite sanctions, including $21.3 billion in 2026.

The CAC 40, which advanced to 7,878.16 earlier, was up 5.55 points or 0.07% at 7,838.43 a little while ago.

Pernod Ricard moved up 3.2%. Veolia Environment gained 2.1%, while Air Liquide, Societe Generale, Michelin, Unibail Rodamco, Capgemini, Accor, Publicis Groupe, L'Oreal, Sanofi and Engie moved up 1%-1.5%.

Renault, Dassault Systemes, Credit Agricole, AXA, Euronext, Bureau Veritas, Thales, Danone and Eurofins Scientific gained 0.4%-0.9%.

Hermes International shed 2.3% and STMicroelectronics dropped 2.1%. Kering and LVMH drifted lower by 1.8% and 1.5%, respectively.

Safran and Legrand lost 0.7% and 0.6%, respectively. Stellantis lost about 1.1% after reporting an estimated 1% decrease third-quarter vehicle shipments.