French stocks are deep down in negative territory on Monday due to heavy selling across the board due to an escalation in Middle East tensions and rising inflationary concerns.
Brent crude futures were up $103.25 a barrel (up 11.5%) a little while ago, after surging to a nearly four-year high above $119.50 a barrel earlier.
Tensions in the Gulf escalated following reports of explosions at Al Udeid Air Base, the largest United States military installation in the Middle East.
Bahrain’s state oil company has declared force majeure on its shipments after Iranian strikes in the region set the largest oil facility on fire.
The benchmark CAC 40, which fell to 7,768.11, a more than 5-month low, was down 150.99 points or 1.89% at 7,842.50 a few minutes ago.
Thales, up 0.7%, is the lone stock from the CAC 40 to trade in positive territory at present.
ArcelorMittal is plunging nearly 6.5%. Unibail Rodamco, Schneider Electric, Michelin and Societe Generale are down 3%-3.7%.
Airbus, Accor, Stellantis, Legrand, Veolia Environment, BNP Paribas, Credit Agricole, Bouygues, Eurofins Scientific and Eiffage are declining 2%-2.7%.
Orange, STMicroelectronics, Kering, Safran, EssilorLuxottica, Vinci, Air Liquide, Saint-Gobain, L’Oreal, Sanofi, Engie and Carrefour are also down sharply.
Market Analysis
CAC 40 Tumbles On Rising Middle East Tensions, Soaring Oil Prices
2026-03-09 10:19:23
