French Stocks Close at 3-Month Low as Basic Materials Drag Down CAC 40

French equities ended Thursday's trading session in negative territory, with the benchmark CAC 40 index falling 0.49% to close at a new three-month low. The broader SBF 120 index also declined, losing 0.50% as market sentiment soured.

Market Snapshot

The decline in Paris was broad-based, with falling stocks significantly outnumbering advancing ones on the exchange by a margin of 296 to 159, while 89 stocks finished unchanged. The session's losses were primarily driven by weakness in the Basic Materials, Healthcare, and Consumer Services sectors, according to market data.

Investor anxiety appeared elevated, as the CAC 40 VIX, a measure of the index's implied volatility, remained at 18.96. While unchanged for the day, this level represents a new 52-week high, signaling heightened market uncertainty.

Sector Leaders and Laggards

Several blue-chip stocks weighed heavily on the CAC 40. The session's worst performers included:

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• ArcelorMittal SA (AS:MT), which fell 2.62% to 64.68.
• STMicroelectronics NV (EPA:STMPA), declining 2.21% to end at 43.64.
• EssilorLuxottica SA (EPA:ESLX), which dropped 2.11% to 145.85, a new three-year low for the stock.

Bucking the downward trend were a few notable gainers. Orange SA (EPA:ORAN) was the top performer on the index, rising 1.97% to 15.52. It was followed by Publicis Groupe SA (EPA:PUBP), which added 1.29%, and Dassault Systemes SE (EPA:DAST), up 1.04%.

Commodities and Currencies

In the wider markets, commodities saw significant divergence. Gold Futures for December delivery fell 1.13% to settle at $4,410.17 a troy ounce. In contrast, energy prices surged, with Crude Oil for October delivery climbing 5.65% to $101.48 a barrel and the November Brent oil contract gaining 5.50% to $106.78 a barrel.

Major currency pairs showed little movement, with the EUR/USD and EUR/GBP pairs remaining mostly flat. The US Dollar Index Futures saw a modest gain, rising 0.12% to 98.93.