CAC Moderately Higher In Cautious Trade

(RTTNews) - France's equity benchmark CAC 40 moved higher on Tuesday as investors reacted to some corporate earnings news. The mood in the market remained a bit cautious due to an escalation in tensions in the Middle East.

The CAC 40, which advanced to 8,040.03, was up 53.13 points or 0.67% at 8,029.25 a few minutes past noon.

The US and Iran are reportedly indulging in attacks in the Gulf amid rising tensions around the Strait of Hormuz.

Iran's parliament speaker said today that US actions were endangering shipping and energy transit in the Strait of Hormuz. "Shipping and energy transit security have been endangered by the United States and its allies through breaching the ceasefire and imposing a blockade," Mohammad Bagher Ghalibaf said in a post on X.

He said a "new equation" was taking shape in the strategic waterway, and added: "We know well that the continuation of the status quo is unbearable for America, while we have not even started yet."

Schneider Electric, Orange, Eiffage, Bouygues, EssilorLuxottica and Vinci gained 2%-2.7%. Safran, Bureau Veritas, ArcelorMittal, Veolia Environment, STMicroelectronics, Michelin and Thales moved up 1.3%-1.7%.

BNP Paribas, Credit Agricole, Eurofins Scientific, Unibail Rodamco, LVMH, AXA and Sanofi gained 1%-1.25%.

Renault, Danone and Capgemini shed 0.5%-0.7%.