CAC 40 regains momentum as oil prices ease

The CAC 40 posted its strongest session since May 6, buoyed by hopes of de-escalation in the Middle East and a retreat in crude prices. The Parisian index climbed 1.76% to 8,258 points, though trading volumes remained thin with Wall Street and the London Stock Exchange closed for public holidays. Across Europe, the Stoxx 600 notched its sixth consecutive winning session, returning to levels seen before the conflict with Iran began. In Italy, the FTSE MIB reached 50,121.2 points, eclipsing a 26-year record.

Market optimism was bolstered by diplomatic progress regarding the Iranian situation.

On Saturday, Donald Trump asserted that an agreement between Washington, Tehran, and several Muslim nations had been 'largely negotiated', while acknowledging that certain points remained to be finalized.

This Monday, Iran confirmed progress 'on a large portion of the issues' under discussion, while tempering expectations of a swift resolution.

'As for saying that the signing of an agreement is imminent, no one can claim that', stated the spokesperson for the Iranian Ministry of Foreign Affairs, accusing Washington of adopting a shifting stance.

These signals of detente are fueling hopes for a normalization of traffic in the Strait of Hormuz and an easing of global oil flows.

In this context, crude prices fell back below 100 dollars per barrel, helping to soothe inflationary fears and supporting risk appetite.

In Paris, stocks most sensitive to energy costs capitalized on the oil retreat: Air France-KLM surged 6.24% and Accor gained 3.13%.

Conversely, TotalEnergies shed more than 1%, weighed down by the decline in crude prices.

In Frankfurt, Delivery Hero soared 11% following press reports of a potential takeover bid from Uber. The American group is reportedly considering raising its proposal after an initial approach was rejected by a core shareholder.

On the currency market, the euro remained stable against the dollar at 1.1642 dollars.