Paris stocks fall 0.79% at July start after strong quarter

The Paris stock market began July with a 0.79% decline, a slight dip after a strong second quarter that saw the CAC-40 index gain 7.5% from April to June. The general index, which had ended the first half of the year on an upward trend, experienced a continuous fall throughout the morning of July 1, reaching a daily low of 8,316.53 points. Trading activity was relatively high, with 4.38 billion euros worth of assets changing hands.

Despite the overall downturn, certain sectors showed resilience. Automotive stocks, in particular, performed well. However, major companies like telecommunications operator Orange saw significant drops, falling 4.48%. Energy group Engie, distribution company Carrefour, semiconductor manufacturer STMicroelectronics, and oil company TotalEnergies also registered notable declines.

On the upside, lens company EssilorLuxottica led the selective index with a 5.46% increase. Automakers Renault and Stellantis also traded clearly higher, as did IT services groups Dassault Systèmes and Capgemini. Investors closely watched the European Central Bank forum in Sintra, Portugal, where the new U.S. Federal Reserve Chairman Kevin Warsh was present.