CAC 40 Rises Sharply As Earnings, U.S.-Iran Peace Deal Hopes Lift Sentiment
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French stocks rose sharply on Wednesday, driven by strong earnings reports and optimism over a potential U.S.-Iran peace deal. The CAC 40 index increased by 191.36 points, or 2.37%, reaching 8,253.67. Notable gainers included ArcelorMittal (+8.5%), Safran (+6.5%), and Stellantis (+6.3%). AXA reported a 3% increase in first-quarter revenues, while Veolia Environnement's EBIT rose by 7.2%. However, TotalEnergies fell by 3%. Economic indicators showed a contraction in France's private sector, with the Composite PMI at 47.6 and Services PMI at 46.5, while industrial production rose by 1% in March.
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