Paris stock market extends gains for third day on lower oil prices

The Paris Stock Exchange concluded Monday's trading session with its third consecutive day of gains, as the benchmark CAC-40 index climbed 0.40%. The positive momentum was largely fueled by a notable decrease in oil prices and a general sense of easing tensions in the Middle East.

The CAC-40 began the trading day with a clear upward trend, surpassing the symbolic threshold of 8,450 points early on. While the index experienced a slight dip mid-morning, approaching a daily low of 8,402.81 points, it recovered strongly in the afternoon. The index ultimately closed at 8,406.06 points, extending its weekly gains to 1.01%, although its monthly performance remains slightly negative at -0.08%.

Despite the overall positive market sentiment, significant fluctuations were observed among individual stocks. Major energy companies faced pressure, with Engie shares falling 2.84% and oil giant TotalEnergies down 2%, directly impacted by the decline in crude oil prices. Semiconductor manufacturer STMicroelectronics also continued its downward trend, losing an additional 1.88% after substantial drops in the preceding days.

On the upside, Capgemini, a consulting and IT services firm, led the index's gains with a significant increase of 5.83%. Beverage and spirits group Pernod Ricard followed with a 3.02% rise, and aerospace and defense electronics company Thales also saw a healthy increase of 2.96%. These gains reflect a varied market performance, with different sectors reacting distinctly to the prevailing economic and geopolitical factors.